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Reports Filed Under the BSA Critical to Largest Medicaid Fraud Case in the Nation

The Newark, New Jersey’s U.S. Attorney’s Office and the IRS utilized reports filed under the BSA to help build the largest Medicaid fraud case in the nation to date. This multi-agency investigation, also involving the FBI and the FDA, uncovered a New Jersey pharmacist who defrauded the Medicaid program by fraudulently obtaining Medicaid numbers and prescription slips and then falsely billing federal and state medical assistance programs for prescription items that were never dispensed. Reports filed under the BSA helped investigators piece together their case. Once the primary target of the investigation became a cooperative defendant, investigators were also able to bring to culmination three other associated cases. Using the forfeiture procedures available in money laundering cases, the government has recovered a total of $5.5 million in fraud proceeds that the subjects laundered through various bank and investment accounts.

(Source: U.S. Attorney’s Office, New Jersey and IRS)

[Published in The SAR Activity Review – Trends, Tips & Issues, Issue 1, October 2000]