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.
Steven King, of Florida, was convicted by a federal jury in June for his misconduct at A1C Holdings regarding more than $50 million in false and fraudulent claims submitted to Medicare.
In addition to his prison sentence, King must pay $21.7 million in restitution, the Department of Justice (DOJ) announced in a press release Thursday.
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. The group sought to conceal their scheme through multiple means, including hiding the ownership of A1C and its pharmacies and transferring patients between pharmacies without their consent, the DOJ said.
As CCO, King had the authority to prevent and expose the scheme but chose not to, the DOJ said.
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