U.S. Senate Majority Leader Bill Frist has acknowledged he has been questioned by federal prosecutors about possible insider stock trading.
His spokesman said prosecutors asked about Senator Frist's recent sale of his stock in the nation's largest hospital chain, Hospital Corporation of America. He said the senator will provide any information required by prosecutors.
Considered a likely Republican presidential candidate in 2008, the Tennessee senator sold his shares in the company days before it's stock plunged following a weaker-than-expected earnings report. He said his decision was based solely on publicly available knowledge and said his only motivation was to eliminate the appearance of a conflict of interest.
Majority leader Frist has been criticized for years for holding the stock while directing legislation on patient issues and Medicare reform.