Sam Seder
@TheMajorityReport·2M subscribers·30.1K videos
Aflac Accused Of Widespread Fraud And Abuse Throughout The Company
Posted
January 13, 2018
Views
13,717
Likes
233
Comments
102
Engagement
2.44%
January 13, 2018
13,717
233
102
2.44%
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14:50Now PlayingIn this Majority Report clip, David Dayen joins the show to discuss widespread abuse and fraud being alleged against Alfac.
Read David Dayen's story here
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---THE INSURANCE FIRM Aflac has exploited workers, manipulated its accounting, and deceived shareholders and customers, according to nine former employees. This article is based on interviews with multiple current and former employees, as well as three previously unreported lawsuits.
The allegations contained in the lawsuits involve nearly every aspect of Aflac’s business and have already led to a series of investigations by state and federal regulators. But though Aflac’s top management and board of directors have known about the claims for over a year, they have not disclosed anything to shareholders in public filings with the Securities and Exchange Commission beyond generalities about unnamed pending lawsuits that they say they expect will not hurt the company’s bottom line.
The revelations could damage the public image of the Columbus, Georgia-based insurer, a Fortune 500 stalwart that boasts about being named one of the world’s most ethical companies for 11 consecutive years and one of the best companies to work for in America. But behind Aflac’s facade, according to the former employees, lurks a company that fails to live up to promises made in employee recruitment. ---
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