Ademola O. Adebayo, Compounding Pharmacy Fraud, Florida 2023

A Florida pharmacist was sentenced to 120 months in prison, followed by three years of supervised release, for his role in a massive compounding pharmacy fraud scheme that defrauded private insurance companies, Medicare, and TRICARE of $121 million.

Ademola O. Adebayo, 55, of Odessa, Florida, was convicted on January 11, 2023, after a four-day trial of one count of conspiracy to commit health care fraud and wire fraud, three counts of health care fraud, and one count of conspiracy to commit money laundering.

The evidence presented at trial showed that from 2012 to 2015, Adebayo and his co-conspirators engaged in a scheme to defraud private insurance companies, Medicare, and TRICARE by submitting false and fraudulent claims for compounded drugs, primarily pain and scar creams, and other prescription medications that were not medically necessary, never provided, or both.

Adebayo conspired to submit or cause the submission of claims that often amounted to several thousands of dollars for a single tube of pain or scar cream. In 2014, when insurance companies discovered the fraud at A to Z Pharmacy and terminated their contracts with the pharmacy, Adebayo agreed to become the straw owner of Havana Pharmacy & Discount in Miami, which Adebayo and his co-conspirators used to continue the fraud.

The evidence further established that Adebayo personally benefited from the fraud and received $1.5 million through the fraud, which he used to purchase luxury vehicles, including a Ferrari, a Lamborghini, a Bentley, a Porsche, and two Cadillacs, as well as a house in Land O Lakes, Florida. All of these items were seized by the government.

Eight other defendants have pleaded guilty in this case. Nicholas Borgesano, 46, of New Port Richey, is serving 15 years for his role as the owner of A to Z Pharmacy in the fraud that involved Havana Pharmacy, Medplus/New Life Pharmacy, and Metropolitan Pharmacy, all of Miami; and Jaimy Pharmacy and Prestige Pharmacy, both of Hialeah, Florida.

In addition to Borgesano, the following defendants have previously been sentenced for their roles in the scheme:

Scott P. Piccininni, 50, of Fort Lauderdale, Florida, sentenced to serve 51 months in prison;

Bradley Sirkin, 56, of Boca Raton, Florida, sentenced to serve 46 months in prison;

Peter B. Williams, 58, of New Port Richey, sentenced to serve 26 months in prison, to be served consecutively to a 60-month sentence of imprisonment he is serving as a result of his guilty plea to a separate indictment returned in the Southern District of Florida;

Wayne M. Kreisberg, 41, of Parkland, Florida, placed on probation for a term of five years, to be served consecutively to a sentence of probation he is serving as a result of his guilty plea to a separate indictment returned in the Middle District of Florida;

Joseph Degregorio, 71, of New Port Richey, sentenced to serve one year in prison; and

Nicholas Borgesano was identified as one of the individuals involved in the fraud scheme.

The government also forfeited various real properties, cars, and a 50-foot boat as part of the sentencing.

Source: https://www.justice.gov/archives/opa/pr/florida-pharmacist-sentenced-10-years-prison-100-million-compounding-pharmacy-fraud-scheme