Pharmacy holding company CCO convicted in $50M Medicare fraud


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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