OIG AUDIT OF AMTRAK and the MULTIPLE Investigations STILL UNDER WAY
Shared by Lisa Evans Rockwell
Semiannual Report to Congress #57 (October 1, 2017 to March 31, 2018).
Since it’s inception in 1971, AMTRAK has received over 1 Billion/Yr in Tax Payer subsidies for it’s operations.
In 2016 AMTRAK received it’s LARGEST YEARLY SUBSIDY EVER, 2.4 BILLION.
WHY was AMTRAK’s operation’s budget MORE THAN DOUBLED IN 2016?
Enter AMTRAK Joe Biden!
AMTRAK was given that hefty amount because Ole Joe’s home State of Delaware asked for that amount of money for work on Amtrak’s Northeast Corridor.
Ole Joe was SO happy he got that money, he whipped out a hanky and CRIED!
Now, in 2016, AMTRAK asked for ANOTHER 1.8 Billion for Calendar YR 2017…..AND GOT IT.
😲4.2 Billion in Tax Payer Subsidies for a 2 YEAR PERIOD. WOW!
In 2016, AMTRAK stated they posted ‘RECORD RIDESHIP NUMBERS’.
If that’s the case and thing’s are FINALLY looking up, WHY does AMTRAK still need in EXCESS OF 1 Billion/YR in Subsidies?
It’s too early to see if that money is being put to good use, so let’s look at WHAT else is in the report.
Now, according to Financial Audit’s done by the IG, let’s LOOK AT AMTRAKS DEBT:
- 👉Current liabilities of $1.6 billion, of which $136
Million is the current maturities of long term debt and capital
leases, and the rest is other current debt, plus $1.053 Billion in various long term debt and capital lease obligations.
- 👉 Amtrak’s total direct indebtedness thus is around $2.7 Billion, plus whatever is secured by the rarely-mentioned mortgage of the NEC to the United States.
Plus, of course, the $25 Billion in the “State Of Good Repair deficit” in the NEC.
- 👉Also its “other liabilities” on the balance sheet that add up to another $3.2 Billion
- 👉Plus $10.9 Billion in preferred stock held by the government.
Moving on from the Financials:
🚨One of the more SHOCKING thing’s revealed in this Audit is that the Union SUED the IG FOR RECOMMENDING that dirty, corrupt Amtrak employee’s be FIRED!
They took it ALL THE WAY TO SCOTUS AND FAILED.🚨
READ PAGE 7👇
“Fraternal Order of Police, Lodge 189 Labor Committee v. National Railroad Passenger Corporation”
Here are some Significant Highlight’s of WHAT ELSE THE IG FOUND:
- ➡ Health Care Fraud November 2017‐March 2018 (Investigation)
- ➡ Theft of Funds January 2018 (Investigation)
- ➡ Violation of Ethical Conduct and Conflict of Interest Policy January 2018 (Investigation)
- ➡ Corruption and Gratuities January 2018 (Investigation)
- ➡ Violation of Company Policies February 2018 (Investigation)
- ➡ Employee Theft of Cash February 2018 (Investigation)
- ➡ Unauthorized Release of Confidential Passenger Information March 2018 (Investigation)
- ➡ Theft of Company Property March 2018 (Investigation)
- ➡ False Statements Related to Contract Steering February 2018 (Investigation)
- ➡ Policy Violation—Failure to Disclose Criminal History March 2018 (Investigation)
There are NUMEROUS more Dept’s within AMTRAK that were audited in the report. you can read ALL of them in the link I provided below.
The OIG stated on the very First page, there are multiple Investigations STILL UNDER WAY, so expect to hear more shocking statistics in the next Audit.
Looking for rampant Theft, Fraud, Waste, Criminal Activity AND Corruption?
ALL of that can be found in one place, AMTRAK!
Now, is it ANY WONDER WHY the CBO has repeatedly stated AMTRAK needs ALL of it’s subsidies stopped and it be privatized?
AMTRAK falls under the Dept of Transportation’s Oversight.
We can THANK Sec. Elaine L Chao for this LONG OVERDUE, IN DEBTH AUDIT of one of the most WASTEFUL Tax Payer funded boondoggles ever!
READ THE COMPLETE 41 PAG AUDIT HERE
ALL INDIVIDUAL OIG AUDITS CONFIRMING THESE FACTS OF AMTRAK CAN BE FOUND HERE
Additional OIG Audit Articles:
SOURCE: Lisa Evans Rockwell