A financial adviser in West New York, N.J., was found guilty on 11 counts in connection with a $4 million healthcare insurance fraud scheme.
Kaival Patel, 54, operated a company called ABC Healthy Living to market compound prescription medications, according to a Dec. 7 news release from the Justice Department. Mr. Patel approached a physician who was Mr. Patel's family member and convinced him to authorize medically unnecessary prescriptions. Mr. Patel received commissions for the prescriptions.
Mr. Patel and his conspirators also paid a group of corrections officers to go to the physician's clinic to receive the fraudulent prescriptions. He additionally conspired with the compounding pharmacist to add unnecessary ingredients to further increase their costs.
To date, about 47 people have been convicted or pleaded guilty to the conspiracy, the release said.