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Fraud News Round-Up: June 2017 Fraud Cases

Fraud News Round-Up: June 2017 Fraud Cases

Below we have listed some June 2017 fraud cases found in the news and referenced on the Internet that includes white collar, heathcare and insurance fraud. Continue reading to learn more about the latest fraud being committed throughout the country.

White Collar Fraud

Read Article: Chinese firm: We’re missing $350M after exec’s disappearance

June 6, 2017

In a statement Monday, China Huishan Dairy says it’s missing most of its cash following the disappearance of the executive director who oversaw the company’s treasury and cash operations.

Huishan said its accounts suggested it should have 2.9 billion yuan ($426 million) in cash or cash equivalents. But its banks say it only has about 467 million yuan ($69 million), the vast majority of which is tied up in restricted deposits.

Huishan also said Monday it plans to hire a forensic accountant to investigate.


Healthcare Fraud

Read Article: Former Orange County lab owner convicted of healthcare fraud

May 3, 2017

A former Aliso Viejo man, Michael Mirando, now residing in Portland Oregon, has been convicted of 15 felony counts of healthcare fraud for submitting bills to insurance companies that sought reimbursement for tests that were never performed.

From 2005 through 2016, he submitted tens of thousands of claims, with insurance companies paying at least $2.5 million in fraudulent claims, authorities said.

Mirando faces up to 10 years in prison for each of the 15 counts when he is sentenced on Aug. 21.


OIG Enforcement Cases

Read Article: Civil Monetary Penalties and Affirmative Exclusions

May 30, 2017

The Office of Inspector General (OIG) has the authority to seek civil monetary penalties (CMPs), assessments, and exclusion against an individual or entity based on a wide variety of prohibited conduct.

The cases listed represent recently closed cases initiated by the OIG’s Office of Counsel to the Inspector General.


Insurance Fraud

Read Article: Santa Rosa doctor accused of defrauding insurers

May 2, 2017

Dr. Eric S. Schmidt, a prominent Santa Rosa orthopedic surgeon, pleaded not guilty to 24 felony offenses in a case that was filed by the state Department of Insurance and the Orange County District Attorney’s Office.

Prosecutors allege Schmidt participated in a $40 million insurance scheme arranged by a Beverly Hills couple, Christopher King and Tanya Moreland King in 2012. The couple is accused of paying doctors and pharmacists to prescribe unnecessary treatment and tests for patients seeking help for work-related injuries.

The sum of the alleged payments to Schmidt — more than $308,000 — was the largest single amount paid to any individual physician named in the complaints.


Fraud schemes come in many forms, shapes, and sizes. No matter the dollar amount of a fraudulent act, it could greatly impact your personal or business finances.  If you feel like you are the victim of fraud, you may want to look into Fraud Investigation Services by a CFE.


Call Veriti Consulting to speak with a professional and trusted forensic accounting firm. Reach out and contact us today at (855) 232-4410.


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