A West New York financial advisor was sentenced to 41 months in prison for his role in a multimillion-dollar health care fraud conspiracy.
Kaival Patel, 55, of West New York, New Jersey, was convicted of one count of conspiracy to commit wire fraud and health care fraud, four counts of health care fraud, one count of conspiracy to commit money laundering by transacting in criminal proceeds, and five counts of money laundering by transacting in criminal proceeds.
The sentencing occurred on April 8, 2024 in Camden federal court.
Patel defrauded public health insurance plans out of more than $4 million.
He received commissions for compound medication prescriptions and engaged in a series of financial transactions to receive proceeds from the health care fraud and wire fraud conspiracy.
Patel was also sentenced to 3 years of supervised release and ordered to pay $4.72 million in restitution.
The investigation leading to the sentencing was conducted by special agents of the FBI’s Atlantic City Resident Agency, special agents of IRS – Criminal Investigation, and the U.S. Department of Labor, Office of Inspector General.
The government is represented by Assistant U.S. Attorneys Daniel A. Friedman and R. David Walk Jr.
U.S. Attorney Philip R. Sellinger credited the law enforcement partners for their work in bringing the case to a successful conclusion.
Related Federal Cases
- Steven M. Butcher, Health Care Fraud and Anti-Kickback Statute Violation, New York 2014 · Alabama
- Michael Conway, Wire Fraud, New Jersey 2016 · New York
- Radu Bogdan Marin, Conspiracy to Commit Bank Fraud, New Jersey 2017 · Massachusetts
- Vadym Iermolovych, International Securities Fraud, New Jersey 2024 · New York
- Shivam Patel, Passport Fraud, Virginia 2023 · Virginia
Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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