Warren Financially Benefited from Private Prisons Despite Claiming They Are ‘Profiteering off Cruelty’

Sen. Elizabeth Warren (D-MA) benefited financially from the existence of private prisons despite vowing to ban them on the grounds that they are “profiteering off cruelty,” a report from the Washington Free Beacon revealed.

Warren pledged in June to ban private immigration centers and private prisons, detailing the vow in a Medium post.

“There should be no place in America for profiting off putting more people behind bars or in detention,” Warren wrote:

We didn’t get here by chance. Washington works hand-in-hand with private prison companies, who spend millions on lobbyists, campaign contributions, and revolving-door hires — all to turn our criminal and immigration policies into ones that prioritize making them rich instead of keeping us safe.

“That’s why I will shut down the use of federal private detention facilities by ending all contracts that the Bureau of Prisons, ICE, and the U.S. Marshals Service have with private detention providers,” Warren continued, accusing private prisons of engaging in “exploitation, plain and simple.”

Evacuation Ordered After Canadian-Owned Gas Pipeline Springs Major Leak in US

Former NBA Star Posts Shocking, Manic Videos Asking His Coach for ‘Help’

NFL owner’s prostitution arrest puts top Dem committee on defense: ‘So desperate for cash’

Former Texas high school teacher arrested after probe into inappropriate student relationship

Jelly Roll Doubles Down, Tells Trump Supporters to Stop Listening to His Music

Judge clears path for ICE agent accused in Minnesota shooting case to leave Texas jail

Watch: UK Royal Family Stages Incredible Tribute to Dolly Parton at Buckingham Palace

America’s heartland comes face-to-face with 9/11 history as 25th anniversary nears

Democrat officials charged for allegedly scamming COVID relief funds

Trump scores federal court win against House progressive accused of assaulting ICE

Dem Candidate, Music Superstar With Sick Sexual History Defended Fellow Musician’s Video In Which He Gropes and Kills Woman

Breaking: ‘Rocky Horror Picture Show’ Star Tim Curry Dies at 80

Netanyahu claims his son was targeted for assassination by Iran

Felony charges against Golden Gate Bridge protesters dropped

How JD Vance worked a private channel with his fantasy football buddy to try to secure a Canada trade deal

See also Dolly Parton dies at age 80

She even implicated the Trump administration, accusing it of luring in private prison companies, which “saw their chance to run the same playbook for our immigration system.”

Despite those pleas, Warren has benefited financially from the existence of private prisons.

According to the Free Beacon, Warren invested tens of thousands of dollars — $50,000 — in a Vanguard Group fund which “owned hundreds of millions of dollars worth of shares in leading private prison companies. While she sold her stakes in that fund in 2013, the Free Beacon noted that it was “the largest shareholder of America’s largest private prison corporation” at the time.

The Free Beacon reported:

Warren invested in Vanguard Target Retirement 2025—a retirement account run by the Vanguard Group, an investment management company—which in turn invested more than 30 percent of its money in Vanguard’s domestic stock index fund. Vanguard was the top shareholder of Corrections Corporation of America (CCA), and one of the largest of GEO Group, both private prison companies, according to data from the Securities and Exchange Commission. Vanguard owned more than 12 million CCA shares and nearly 9 million GEO Group shares, which were worth roughly $456 million and $216 million, respectively, in March 2013.

CCA, now called CoreCivic, was already the country’s largest owner of private prisons in 2013, according to an annual report. The company owned or controlled more than 50 correctional or detention facilities in the country, “with a total design capacity of approximately 86,000 beds in 20 states and the District of Columbia.” GEO Group is also one of the largest private prison providers in the country with 66 prison facilities across the world as of 2013. The two companies also operate many Immigration and Customs Enforcement (ICE) detention facilities for illegal immigrants.