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Man faces securities fraud charges in two-year scheme

Posted on November 21st, 2011 No Comments

A Florida man has been charged with securities fraud and wire fraud after being caught running an $11 million two-year scheme.

The man ran a fund company and was offering nonexistent shares into companies. The companies he was publicizing included Facebook Inc. and Groupon Inc. The shares that investors paid never guaranteed them stake in those companies, instead it funded the man’s personal account.

The $11 million that was collected from this scam over two years was used to purchase luxury items including automobiles and jewelry.

A civil complaint was reported by the U.S. Securities and Exchange Commission against the man. He faces up to 20 years in prison for each charge against him and an additional five years if convicted of conspiracy.

If you have information regarding securities fraud, please contact the securities fraud lawyers of Tycko & Zavareei, LLP by calling 202-973-0900 today.

Healthcare fraud case results in plea bargain

Posted on November 14th, 2011 No Comments

A Colorado man has pleaded guilty to charges including healthcare fraud and money laundering. The prosecutors in the case released seven other charges in exchange for the plea. The man could receive a 20 year jail sentence for the fraud charge and an additional 10 year sentence for the money laundering.

The healthcare fraud scheme involved overcharging individuals for home care. The man, a health care provider, would create counterfeit documents with doctors’ instructions in order to swindle money out of patients. The total amount of money that he received for his illegal activities was $3.4 million.

The man is currently cooperating with authorities and will receive his sentence in March.

If you have information regarding healthcare fraud and are interested in filing a Qui Tam lawsuit, please contact the healthcare fraud attorneys of Tycko & Zavareei, LLP, by calling 202-973-0900 today.

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Sisters accused of Medicare fraud, each sentenced to 14 years

Posted on November 7th, 2011 No Comments

Two sisters have been accused and convicted of Medicare fraud and were each sentenced to 14 years in prison. The sisters, ages 54 and 57, set up a scam centered around AIDS therapy.

They began their fraud in Miami, Florida but when they found out investigations were under way regarding their area of practice, they took their expertise to Detroit, Michigan. The two set up a clinic claiming to help patients who had HIV receive infusion therapy for the disease.

What they really did was scam Medicare out of nearly $6 million. The two fled the country and were arrested in Venezuela earlier this year. Out of the $6 million, the sisters personally collected $3.8 million from the scam. A judge sentenced each of them to 14 years in prison and has ordered them to repay what they stole from Medicare.

If you have information regarding Medicare fraud, please contact the healthcare fraud attorneys of Tycko & Zavareei, LLP by calling 202-973-0900 today.

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10-year sentence given to man in mortgage fraud case

Posted on October 31st, 2011 No Comments

A Minnesota man has been convicted of mortgage fraud and was sentenced to 10 years in jail. The mortgage fraud that he was behind caused multiple lenders to lose a total of $7.6 million.

According to court reports, this is one of the largest fraud cases that the state of Minnesota has ever dealt with. The man helped arrange fraudulent loans and planned illegal dealings involving real estate. He would sell units at inflated prices and then personally benefit from the excess money.

The trial lasted three weeks and a jury was present. The defendant was convicted of mortgage fraud, bank fraud, 10 counts of wire fraud as well as one count of money laundering.

If you have information regarding mortgage fraud, please contact the Qui Tam lawyers of Tycko & Zavareei, LLP by calling 202-973-0900 today.

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Defendant in tax fraud case pleads guilty

Posted on October 24th, 2011 No Comments

A 47-year-old former tax examiner for the District of Columbia entered a guilty plea to the U.S. District Court last Thursday. The guilty plea is in regards to a scam resulting in $400,000 of fake refunds.

In her position, the defendant distributed fraudulent tax returns that ended up in personal bank accounts along with others. These fake payments were documented to have occurred more than 48 times in the span of four years. The defendant had worked in taxes for the last ten years.

The defendant gained admittance to multiple accounts where she could give out refunds without the the taxpayer knowing, if the amount was less than $10,000. The defendant has plead guilty and as part of the deal is required to pay $410,000 to the District of Columbia for reimbursement.

If you have information regarding tax fraud, please contact the tax fraud lawyers of Tycko & Zavareei, LLP by calling 202-973-0900 today.

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Qui Tam lawsuit settled for $7.5 million

Posted on October 19th, 2011 No Comments

In Columbus, Ohio a qui tam lawsuit was filed against Select Medical Holdings. Select was responsible for paying the United States government $7.5 million.

The lawsuit is related to a 2009 subpoena that Select was given in connection with Columbus physicians. The company’s pre-tax charge was $7.5 million which was documented in the second quarter of 2011 to indicate reserve funds.

The company is headquartered in Mechanicsburg, Pennsylvania and it’s main function is to supply healthcare including physical and medical rehabilitation.

Select has also agreed to sign a 5-year “corporate integrity” agreement and pay some additional legal fees.

If you need assistance with a qui tam lawsuit, please contact the whistleblower lawyers of Tycko & Zavareei, LLP by calling 202-973-0900 today.

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Escrow accountant charged with mail fraud

Posted on October 14th, 2011 No Comments

A woman with a scheme to deceive a title insurance company and lenders of $1.7 million was found guilty of mail fraud.

The escrow accountant worked for companies that were located in Washington, D.C., Annapolis and Baltimore. She used her job position to adjust escrow account statements before they were audited. These alterations made the reports appear to be balanced when in reality they were off by $3 million.

Due to her misleading tactics, the company she was employed by lost $1.7 million. Two other people are expected to go on trial in November for their parts in this mail fraud scheme.

The woman in question can face up to 20 years in jail and a fine of $250,000 when she is sentenced in January.

If you have information regarding mail fraud please contact a Qui Tam Attorney of Tycko & Zavareei, LLP, by calling 202-973-0900.

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Par Pharmaceuticals accused in whistleblower case

Posted on September 8th, 2011 No Comments

Par Pharmaceuticals is a leading generic drug distributor who has been accused of participating in a drug switching scheme with two other foreign companies.

According to the Chicago law firm who filed the complaint, Par defrauded government healthcare systems by conspiring with pharmacies to switch Prozac and Zantac prescriptions with Par’s products. Switching to Par’s products would cause much higher Medicaid prices to be charged.

Walgreens was sued in a similar scheme back in 2008, when the company allegedly switched ranitidine and fluoxetine drugs. Walgreens was required to pay $35 million to the United States and 42 states in the settlement. The current whistleblower lawsuit has resulted in federal and state governments recovering more than $120 million for Medicaid fraud.

If you have information on Medicaid fraud and are interested in filing a Qui Tam lawsuit, please contact the Medicaid fraud lawyers of Tycko & Zavareei, LLP, by calling 202-973-0900 today.

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Healthcare fraud prosecutions increase by 85 percent

Posted on September 1st, 2011 No Comments

According to recent government statistics, in the first 8 months of this year, healthcare fraud prosecutions have increased by nearly 85 percent.

So far in 2011, 903 prosecutions have been made against parties suspected of healthcare fraud. Only 731 healthcare fraud prosecutions were made in all of 2010.

Additionally, last year, a total of 23 parties were convicted of Medicare fraud. In the first 8 months of 2010, there have already been 24 Medicare fraud convictions.

In February, a Medicare Fraud Task Force charged 111 people and healthcare providers with healthcare fraud. The take-down was the largest in the task force’s existence.

Contact the Healthcare fraud attorneys of Tycko & Zavareei, LLP at 202-973-0900, if you or someone you know is aware of a healthcare provider committing federal healthcare fraud.

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Circumstances for filing a Qui Tam lawsuit have been expanded

Posted on August 26th, 2011 No Comments

The Third Circuit of the U.S. Court of Appeals has recently clarified the circumstances under which whistleblowers can file a qui tam lawsuit.

Whistleblowers are able to receive some of the damages recovered as a result of fraud against the government due to the False Claims Act. Now, a distinction between “implied” and “express” false certification theories is helping to clarify instances if which whistleblowers can file a suit under the Act.

Express false certifications involve a company falsely claiming that it complies with a regulation leading to government payout. An implied false certification, on the other hand, is based on the theory that a company shows compliance with agency regulations by simply seeking pay back for services provided to a government entity.

If you need assistance with a Qui Tam lawsuit, please contact the whistleblower lawyers of Tycko & Zavareei, LLP by calling 202-973-0900.

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