Unsealed lawsuit alleges Molina overbilled for children's mental health

AXIOS

A newly unsealed lawsuit accuses Molina Healthcare of cutting corners in its mental health services for children and defrauding Medicaid in the process.

The big picture: Molina provides Medicaid managed-care plans in more than a dozen states. The whistleblower suit accuses the company of overbilling specifically for children's behavioral health services, to the tune of at least $20 million across multiple federal, state and local agencies. read more »

German prosecutors appeal for public help in tracing Wirecard boss

REUTERS

German prosecutors appealed on television on Wednesday for help in tracking down Jan Marsalek, a former boss of collapsed payments company Wirecard, and issued a wanted notice for a manager they suspect of embezzling billions of euros.

Charges were first brought against Marsalek in June 22, and his status as a suspect was widely known, but under Germany’s extremely strict privacy laws, formally announcing he is a suspect and soliciting public help is a major step. Prosecutors said they believed he was outside Germany. read more »

The History of Ponzi Schemes Goes Deeper Than the Man Who Gave Them His Name

TIME

In the century since his arrest on Aug. 12, 1920, Charles Ponzi’s name has been linked to the scam that led to his eventual conviction and imprisonment. At its essence, a Ponzi scheme involves a phony investment in which early investors are paid with the investments of later investors making the enterprise appear legitimate. But Ponzi was neither the first nor the last, by far, to perpetrate this type of fraud. read more »