Whistleblowers say health insurers are scamming Medicare to make billions

DENVER GAZETTE

Teresa Ross had been raising objections at work for months when her bosses brought in a psychologist hoping to make her question her own sanity. A longtime manager at a Seattle health plan called Group Health Cooperative, Ross had opposed changes to the way the company billed Medicare. With the help of a new vendor, the insurer identified new diagnoses for patients, bringing in millions of extra dollars from the government. Ross insisted much of it was fraud. She says she was cut out of meetings. read more »

CFTC Charges Wisconsin Woman and Her Companies with Fraud and Misappropriation

CFTC

The Commodity Futures Trading Commission today filed a civil enforcement action in the U.S. District Court for the Eastern District of Wisconsin against Kay Yang of Mequon, Wisconsin, and her companies, AK Equity Group LLC and Xapphire LLC. The complaint charges Yang, AK Equity, and Xapphire with fraud and misappropriation related to an off-exchange foreign currency (forex) trading scheme in which they solicited funds totaling at least $15.7 million from at least 67 investors. Yang’s husband, Chao Yang, is named as a relief defendant for receiving investor funds to which he was not entitled. read more »

‘Essex Boys’ case of traders accused of manipulating markets heads for trial

THE GUARDIAN

“Please don’t tell anyone what happened today lads x,” one of a group of traders dubbed “the Essex Boys” texted his colleagues as they reportedly made $700m on the collapse of the oil price in 2020. read more »