Jerry F. Wells, the former CFO of Columbia, S.C.-based UCI Medical Affiliates, has been sentenced to 6.5 years in federal prison for embezzling $2.9 million from the company, according to a report from The State.
Mr. Wells must also repay the funds he embezzled and will spend three years on supervised release. The sentence is more severe than the one Mr. Wells had agreed to in July 2009 when he first pleaded guilty to the charges. Federal authorities discovered Mr. Wells had accepted a new position at another company while waiting on his sentence and embezzled $40,000 from that employer.
U.S. District Judge Joseph Anderson expressed concern that Wells was receiving just six years in prison in exchange for stealing $2.9 million. “It was not a crime of financial need,” Anderson said. “It was a crime of luxury. The conduct in this case is particularly egregious,” he said, according to the report.
Read the The State report on Jerry F. Wells.
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– 10 Big Fraud and Abuse Cases Involving Hospital Executives
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