- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-09-13T18:06:00
Former executives of Medly, an online pharmacy that is now shuttered, have been charged by the Securities and Exchange Commission (SEC) with defrauding investors.
Former CEO Marg Patel, former Chief Financial Officer Robert Horowitz, and former Head of Pharmacy Operations Chintankumar Bhatt, were charged with violating the antifraud provisions of securities laws, according to a press release Thursday. Bhatt was also charged with aiding and abetting Patel and Horowitz to violate securities laws.
Starting at least in February 2021, Bhatt entered millions worth of fake prescriptions into Medly’s system, according to the complaint, filed in U.S. District Court for the Eastern District of New York. Many of the fake prescriptions were for very high-cost medications.
2024-09-17T18:54:00Z By Aaron Nicodemus
Gatekeepers including chief financial officers and the chair of the audit committee have a responsibility to shareholders to report fraud wherever they find it–especially when that fraud involves an artificial intelligence tool meant to combat fraud.
2023-11-17T15:08:00Z By Kyle Brasseur
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.
2023-06-09T15:20:00Z By Jeff Dale
Steven King, the chief compliance officer of a defunct pharmacy holding company, was found guilty of conspiracy to commit healthcare fraud and wire fraud for unnecessarily billing Medicare for more than $50 million in medical supplies.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
Site powered by Webvision Cloud