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Anorak | No, John Oliver did not give away nearly $15 million of medical debt

No, John Oliver did not give away nearly $15 million of medical debt

by | 7th, June 2016

john oliver debt

 

John Oliver is the news king of talk telly. But unlike Oprah, he’s not giving  away free cars – he’s burning cash! The host of HBO’s Last Week Tonight is a hero:

“Any idiot can get into it, and I can prove that to you, because I’m an idiot and I started a debt buying company and it was disturbingly easy,” Oliver said. John Oliver forgave nearly $15 million of medical debt with a tap of a giant red button on Sunday night.

 

John Oliver debt

The Indy says it was #15m

 

No. Wrong. It was cracking TV. But he did not do as CNN said he did. He purchased his lot on the secondary market at a huge discount.

Last Week Tonight spent about $50 to create a debt-acquisition company in Mississippi. The corporation’s name is Central Asset Recovery Professionals Inc – also known as Carp. According to Oliver, soon after its creation, Carp was offered a portfolio of medical debt worth $14,922,261.76 at a cost of “less than half a cent on a dollar, which is less than $60,000”.

Not $15m, then. And at $60,000 it was a marketing and PR bargain.



Posted: 7th, June 2016 | In: Celebrities, Money, News, TV & Radio Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink