Meet three people who make tons of money off prisons
By Techyville
The US prison system leaves much to be desired. The prisons are overcrowded and the prisoners and guards alike suffer much abuse inside those walls. In the US we have more people in prison than China and Russia. Many of these prisons are run by for-profit companies, not the government, so someone is getting rich off of locking people away. Who are the ones that make their money off of criminals?
The following investors were found through NASDAQ data research of Corrections Corporation of America and GEO Group which are two of the largest companies that run prisons in the country.
1. Henri Wedell – Mr. Wedell has been on the board of directors at CCA since 2000. He is invested in the most prisons out of anyone else in America. He owns stock shares that are worth over $25 million. When he was asked how he felt about making money off of people in prison he simply stated that this was a free country and there were those who chose not to enjoy that freedom.
2. George Zoley – Mr. Zoley is the CEO of the GEO Group. He is the second biggest investor in the prison system. He tried to get a football stadium named after GEO Group because he is so proud of his business. In salary and bonuses alone Zoley pulled in almost $6 million. He has also made $23 million in stock shares in just 18 months.
3. Jeremy Mindich and Matt Sirovich – Both of these men run Scopia Capital which is the biggest shareholders in the GEO Group. They currently own around $300 million in shares. They are a hedge fund and outperformed the market by 20 percent. The state of New Jersey even hired them to manage their pension funds.
