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.”

White House Calls for Historic Increase in Military Spending in 2027 Budget Proposal

Watch: Trump Shares Video of Iran’s Tallest Bridge Crumbling, Warns Regime of More Strikes to Come

Dem fundraising giant ActBlue rocked by allegations it misled Congress about foreign donations

US pilot rescued from downed F-15E fighter jet in Iran, search for second crew member ongoing

Don Lemon Teases His Presidential Run Depends on God, Who He Insists is Female: ‘If She Gives Me a Sign’

Feds charge illegal immigrant in Loyola student killing as attorney says prosecutors lack ‘faith’ in state

Breaking: Labor Report Blows Economists Away – 3 Times as Many New Jobs Added as Projected

WATCH: House Democrat gets unexpected response when he asks constituents about voter ID requirements

DHS preps deportation of alleged MS-13 gang member wanted for pastor’s murder in El Salvador

What B-52 bombers bring to the Iran fight and more top headlines

‘Local independent’ outlet in Virginia pushing redistricting is owned by Democratic operatives

Trump’s $1 billion presidential library expected to dwarf all predecessors

VP Vance to meet with Viktor Orbán in Hungary days ahead of foreign nation’s elections

Celebrity chef lashes out at Trump for changing the ‘rules’ the same year as America 250

Colorado House advances conversion therapy lawsuit bill; GOP lawmaker calls it ‘slap in the face’ to SCOTUS

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.