Democrats Continue to Question DeVos Stock Ownership

By  | 

Democrats today repeated their charges that Republican gubernatorial candidate Dick DeVos, along with his family, controlled a troubled nursing home company cited for allowing elderly patients to be abused.

Michigan Democratic Party Chairman Mark Brewer says the DeVos family investment company, RDV Corporation, invested nearly $200 million in 2000 in Alterra Healthcare Corporation.

Michigan Republican Party Chairman Saul Anuzis says that DeVos owned less than one percent of the company's stock and didn't have a controlling interest in the company.

Brewer disputes that.

He says DeVos and RDV controlled Alterra not just through stock ownership, but by getting changes in the company bylaws that allowed them to control decisions made by the company's board of directors.

The company went bankrupt in 2003 and DeVos sold the stock.