An Indian national has been convicted by a federal jury in Michigan for orchestrating a USD 2.8 million healthcare fraud and engaging in money laundering.
According to court documents and evidence presented at trial, Yogesh Pancholi, 43, owned and operated Shring Home Care Inc, a home health company based in the US state of Michigan.
Despite being excluded from billing Medicare, Pancholi purchased Shring using the names, signatures, and personal identifying information of others to conceal his ownership of the company, a statement said.
In a two-month period, Pancholi and his co-conspirators billed and were paid nearly USD 2.8 million by Medicare for services that were never provided.Pancholi then transferred these funds through bank accounts belonging to shell corporations and eventually into his accounts in India.
The sentencing is scheduled for January 10.
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