Mike Leavitt Sells More Than $5M in Holdings

Mike Leavitt Sells More Than $5M in Holdings

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WASHINGTON, D-C (AP) -- Former Governor Mike Leavitt has sold his interest in his family's insurance company -- in an effort to avoid any conflict of interest in his new job.

Leavitt's holdings were valued at a minimum of $5.1 million dollars. He was required to sell the assets because the department he now heads regulates the insurance industry.

Leavitt is now the secretary at the Department of Health and Human Services.

Leavitt's chief of staff said yesterday this was tough for him, but it's the price you have to pay sometimes for public service.

The ethics officer of the Department of Health and Human Services praised Leavitt for selling his holdings, rather than recusing himself from certain decisions where there might be a conflict.

(Copyright 2005 by The Associated Press. All Rights Reserved.)

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