Steven King of Miramar Convicted
BROWARD COUNTY, FL (Boca Post) (Copyright © 2023) — Steven King of Miramar was convicted of wire fraud by a jury who agreed that he defrauded Medicare out of $50M.
Court records reviewed by Boca Post confirm that Steven King, a Chief Compliance Officer of a pharmacy holding company, was convicted of wire fraud for a scheme that defrauded Medicare out of $50M.
The Department of Justice says that while King was the CCO of A1C Holdings, LLC, a pharmacy holding company, he fraudulently billed Medicare over $50 million dollars. The money was used to fraudulently dispense lidocaine and diabetes testing supplies to people who did not need them, violating Medicare and pharmacy benefit manager rules.
Authorities say King and his co-conspirators operated pharmacies in several states and they attempted to cover up the scheme including covering up the ownership of A1C, transferring patients without consent, and enrolling mail-order pharmacies as brick-and-mortar retail locations.
A jury convicted King of conspiracy to commit health care fraud and wire fraud. King could be sentenced to up to 20 years in prison.