- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-06-09T15:20:00
The chief compliance officer of a defunct pharmacy holding company was found guilty of conspiracy to commit healthcare fraud and wire fraud Thursday for unnecessarily billing Medicare for more than $50 million in medical supplies.
Steven King, of Florida, was convicted by a federal jury for his misconduct at A1C Holdings, which ran pharmacies across several states, including Michigan-based All American Medical Pharmacy, the Department of Justice (DOJ) announced in a press release.
King, along with his alleged co-conspirators, exploited Medicare beneficiaries by billing for lidocaine and diabetic testing supplies that were neither required nor requested by patients. These actions defrauded Medicare and violated pharmacy benefit manager regulations, the DOJ stated.
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Former executives of Medly, an online pharmacy that is now shuttered, have been charged by the Securities and Exchange Commission with defrauding investors.
The chief compliance officer of a defunct pharmacy holding company was sentenced to 4 1/2 years in prison after being found guilty of conspiracy to commit healthcare fraud and wire fraud earlier this year.
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