FBI raid on WellCare
It was recently announced that three top executives at WellCare Health Plans have resigned and their resignations were effective immediately.
WellCare provides managed care to 2.3 million Medicare and Medicaid patients.
The company said that Todd Farha, chairman of the board, chief executive officer and president; Paul Behrens, chief financial officer; and Thaddeus Bereday, general counsel, all resigned from their positions but will stay on with the company as nonexecutive employees until March 31.
They have been replaced by Charles Berg, 50, as executive chairman and Heath Schiesser, 40, as president and CEO.
The problems began last October when federal and state agencies conducted a raid on the company’s headquarters in Tampa, Fla.
A Spokesman said the agents began their search in three to four of the buildings, but he declined to comment on what the search was about and said that the search warrant involved was sealed.
Agencies involved included the U.S. Federal Bureau of Investigation, the U.S. Department of Heath and Human Services Office of Inspector General, and the Florida attorney general's Medicaid Fraud Control unit
George Soros was the largest investor in a private equity fund that cashed out of WellCare in August of ‘06, bringing in a total of $870 million for an investment that originally cost $220 million.
WellCare said in a statement it continues to cooperate with the U.S. Justice Department, the Florida attorney general’s office, and the other agencies involved in the ongoing investigation.
Florida has a very aggressive antifraud division that investigates overcharging or fraudulent billing for medical services.
It is likely the investigation has something to do with this type of activity.
WellCare provides managed care to 2.3 million Medicare and Medicaid patients.
The company said that Todd Farha, chairman of the board, chief executive officer and president; Paul Behrens, chief financial officer; and Thaddeus Bereday, general counsel, all resigned from their positions but will stay on with the company as nonexecutive employees until March 31.
They have been replaced by Charles Berg, 50, as executive chairman and Heath Schiesser, 40, as president and CEO.
The problems began last October when federal and state agencies conducted a raid on the company’s headquarters in Tampa, Fla.
A Spokesman said the agents began their search in three to four of the buildings, but he declined to comment on what the search was about and said that the search warrant involved was sealed.
Agencies involved included the U.S. Federal Bureau of Investigation, the U.S. Department of Heath and Human Services Office of Inspector General, and the Florida attorney general's Medicaid Fraud Control unit
George Soros was the largest investor in a private equity fund that cashed out of WellCare in August of ‘06, bringing in a total of $870 million for an investment that originally cost $220 million.
WellCare said in a statement it continues to cooperate with the U.S. Justice Department, the Florida attorney general’s office, and the other agencies involved in the ongoing investigation.
Florida has a very aggressive antifraud division that investigates overcharging or fraudulent billing for medical services.
It is likely the investigation has something to do with this type of activity.
posted by Anonymous at 6:00 AM
2 Comments:
so how much did they bilk the government before they were caught.
Who pays for this??
Answer: we the taxpayers
what government fraud? Your kidding me.
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