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To print this article, all you need is to be registered or login on Mondaq.com. Mohamed Mokbel and Fathy Elsafty, of Houston, Texas, were arrested on charges of money laundering, health care fraud, and conspiracy to commit health care fraud for their participation in an alleged pharmacy fraud scheme. Mokbel served as CEO of 4M Pharmaceuticals, Inc., the parent company of several retail pharmacies that operated in Texas and Florida, and Elsafty was 4M Pharmaceutical s accountant and tax preparer. Both individuals had ownership interests in the retail pharmacies. According to the indictment, 4M Pharmaceutical employees operated as call center employees to solicit Medicare, Medicaid, ....
A federal judge granted bond for Mohamed Mokbel Thursday, under some very strict conditions. Mokbel has to come up with $250,000 for a secured bond and will have to wear an ankle monitor. He will be under house arrest unless he s leaving to go to work, visit his attorneys, doctors visits or other approved reasons. Mokbel was known in his Afton Oaks neighborhood as the man with a Ferrari and a Bentley parked in the driveway. Neighbors called police numerous times for loud partying. However, just about everyone was surprised when federal authorities raided his home early Tuesday morning. Mokbel, wearing a Fendi cat-eye shirt, was marched out of his house in handcuffs and sent to federal detention. ....
Houston pharmacy CEO arrested in disturbing $134M Medicare fraud scheme mysanantonio.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mysanantonio.com Daily Mail and Mail on Sunday newspapers.
4M Pharmaceutical CEO, Mohamed Mokbel, accused of $134M fraud case to be released on home confinement abc13.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abc13.com Daily Mail and Mail on Sunday newspapers.
A company CEO known in his upscale Houston neighborhood for his luxury cars and loud, lavish parties was hauled away in handcuffs for a multi-million fraud case. In the federal indictment against Mokbel and his accountant, Fathy Elsafty, the government alleges they conspired to submit fraudulent claims for medication, topical creams, and medical supplies that in many cases patients did not need after they were lied to and told their doctors approved it. This led to elderly and sick patients taking unnecessary medication. In this case, the feds allege there were at least 25,000 patients. Bill Mahon, a nationally recognized health care fraud expert, said though while he is not involved in this case, he is familiar with some of the pharmacies allegedly involved. ....