Suicide exposes squalor in private prisons run by GEO while CEO cashes in
Associated Press reporter John Miller files a masterpiece of investigative journalism, tracking the failures of a private prison operator, GEO Group.
Miller documents the suffering of Scot Noble Payne, who spent months in solitary confinement before committing suicide. He left a 20-page suicide note documenting the horrid conditions of the Texas prison run by GEO.
And today, in an interesting coincidence, the CEO of GEO, Wayne Calabrese, has just sold 30,000 shares he bought on options for $84,000 and then promptly sold them for $875,000.
Crime does pay. GEO, as AP reports, had a net profit of $30 million last year.
Payne's suicide on March 4 came seven months after he was sent to the squalid privately run Texas prison by Idaho authorities trying to ease inmate overcrowding in their own state. His death exposed what had been Idaho's standard practice for dealing with inmates sent to out-of-state prisons: Out of sight, out of mind.
The president and chief operating officer of Geo Group Inc., which operates correctional and detention facilities, exercised options for 30,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.