Healthcare exec convicted for $50M Medicare fraud scheme 

The chief compliance officer of a pharmacy holding company was sentenced to four years and six months in prison and must pay $21.7 million in restitution for his role in a healthcare fraud scheme. 

Steven King, 45, was convicted for fraudulently billing Medicare for dispensing lidocaine and diabetic testing supplies in a $50 million scheme, the U.S. Justice Department said in a Nov. 16 news release. 

Mr. King, along with his co-conspirators, operated A1C Holdings, a holding company for pharmacies in various states. The pharmacies secured prescriptions and refills for medically unnecessary prescriptions. 

Additionally, according to the report, Mr. King and his co-conspirators took several steps to conceal their scheme, including enrolling their pharmacies as brick-and-mortar stores to evade oversight. 

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