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.”

Muslim groups, other leaders demand Abbott rescind CAIR’s ‘terrorist’ designation: ‘Defamatory’

Rep. Swalwell sues Trump official over mortgage fraud allegations: ‘A gross abuse of power’

Roblox CEO calls child predator crisis an ‘opportunity’ amid ban of gamer who exposed groomers on platform

Miami woman allegedly slices boyfriend with machete after restaurant fight over infidelity

‘Zizian’ ringleader accuses Trump admin of transgender ‘genocide’ in courtroom tirade

DHS says four House Democrats ‘chose to stand with criminal illegal aliens’ after visiting ICE detainee

Navy sailor dies after rescuing 2 children from high surf in Hawaii waters

Parents/Grandparents Alert: Christmas AI Teddy Bears Can Teach Kids About Bondage Sex, How to Light Matches, Where to Find Knives, Pills, Plastic Bags

Fact Check: Did the Trump Administration Declare Nurses Aren’t ‘Professionals’?

NYC Council welcomes new mayor with bill that would dramatically raise salaries for city officials

Taliban vows to respond after alleged Pakistani strikes rock Afghanistan overnight

Trump Admin to Begin ‘Comprehensive Review’ of Every Refugee Admitted to US Under Biden

Trump, Duffy slam Pritzker’s ‘soft-on-crime policies’ after Chicago woman set on fire on train

Missing Virginia high school coach investigated for child porn and soliciting a minor, police say

Fox News Politics Newsletter: Former Army captain warns Dems’ ‘unpatriotic’ video could spark chaos

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.