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One crooked HMO - top executives ...

Posted Nov 10 2008 4:19pm

One crooked HMO - top executives had some very creative financing going on as the court found...some non-existent or inflated numbers on the books that did not add up..patients were the real losers...BD

According to the government, Scheur came to Louisiana in 1999 after being hired to straighten out the financially troubled Southeast Medical Alliance health plan, an HMO owned by five New Orleans area hospitals. Instead, he persuade the state Department of Insurance to let him take over the health plan, assuming control of it in January 2000.

Prosecutors contended that at the time The Oath wasn't meeting its $3 million net worth requirement, the defendants illegally enriched themselves by continuing to collect premiums from individuals and groups insured by The Oath, and by having the HMO pay management fees to Scheur's firm.

Former execs of The Oath found guilty of conspiracy, fraud - Breaking News from New Orleans - Times-Picayune - NOLA.com

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