According to a U.S. Department of Health and Human Services inspector general's report, which was released on Monday, federal officials are struggling to monitor the effectiveness of fraud detection programs aimed at preventing what amounts to roughly $60 billion per year in fraudulent submissions.
Rajat Gupta, a former board member of Goldman Sachs and Proctor & Gamble, had a securities fraud indictment unsealed against on Wednesday. The indictment reportedly accuses Gupta of defrauding the securities market through insider trading, along with Ram Rajaratnam, a hedge fund founder who has already been convicted of conspiracy and securities fraud.
A Baton Rouge man was recently sentenced to over four years in federal prison for failing to pay $726,476 in sales taxes to the State of Louisiana and the federal government. Sources said that the 51-year-old restaurateur has admitted to sending most of the money to Syria.
A New Iberia man recently sentenced to 42 months in federal prison for his involvement in a $1.1 million Medicare fraud scheme reportedly worked with a former Baton Rouge attorney, among others, in the illegal activity. The 45-year-old New Iberia man apparently received over $200,000 for his involvement in the fraud scheme,
A Chalmette man guilty of fraud will be spending up to 10 years in prison for fraudulently obtaining over $120,000 worth of financial assistance from the Louisiana Road Home program, a fund set aside for assistance victims of Hurricane Katrina.
Former White Castle Mayor Maurice Brown, who was charged with federal racketeering and fraud charges in March, learned last Wednesday that he may be facing between 19 and 24 years in prison. Those charges came after a one year long FBI sting known as Operation Blighted Officials.
A New Orleans man recently pleaded guilty to a federal charge of fraud for involvement in a scheme in which forged paintings were sold to unsuspecting art collectors.
According to a recent USA Today analysis, the Obama administration is going after fewer cases of defrauding government benefits program and increasingly prosecuting fraud schemes connect to mortgage lending, financial institutions and Medicare.