Pharmacist Sentenced for $180 Million Health Care Fraud Scheme

DOJ

A former Mississippi pharmacist was sentenced today to 10 years in the Southern District of Mississippi for a multimillion-dollar scheme to defraud TRICARE and private insurance companies by paying kickbacks to distributors for the referral of medically unnecessary prescriptions. The conduct resulted in more than $180 million in fraudulent billings, including more than $50 million paid by federal health care programs. read more »

SEC Charges Archegos and its Founder with Massive Market Manipulation Scheme

SEC

The Securities and Exchange Commission today charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also charged Archegos’s Chief Financial Officer, Patrick Halligan; head trader, William Tomita; and Chief Risk Officer, Scott Becker for their roles in the fraudulent scheme. read more »

McKinsey exec faces questions on opioid, FDA consulting work

AP

The top executive for global consulting firm McKinsey & Company faced congressional questions Wednesday about the company’s work for U.S. health regulators even as it advised opioid drugmakers on how to boost sales of their prescription painkillers. read more »