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Thread: Shell companies steal hundreds of millions from Medicare

  1. #1
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    Shell companies steal hundreds of millions from Medicare

    This article makes me feel like supporting the death penalty for white collar crime. Stealing money from our program for health care for the elderly goes beyond despicable. I hope people from all ends of the political spectrum can agree that this criminal ought to receive some serious punishment. Send him to prison for a long, long time.

    By Brian Grow and Matthew Bigg
    updated 2 hours 45 minutes ago 2011-12-22T03:06:16

    MIAMI/ATLANTA — By the time authorities busted a fake AIDS clinic in Miami, it had bilked Medicare of more than $4.5 million. Still, the man behind the scheme remained far ahead of the agents pursuing him.

    Michel De Jesus Huarte, a 40-year-old Cuban-American, hadn't simply avoided arrest. He had hatched a plan to steal millions more from Medicare by forming at least 29 other shell companies — paper-only firms with no real operations. Each time, he would keep his name out of any corporate records. Other people — some paid by Huarte, some whose identities had been stolen — would be listed in incorporation papers.

    The shells functioned as a vital tool to hide the Medicare deceit — and not only for Huarte. Hundreds of others have used the veil of corporate secrecy to help steal hundreds of millions of dollars from one of the nation's largest social service programs, a Reuters investigation has found.
    Entire Article:
    Shell companies steal millions from Medicare - US news - Crime & courts - msnbc.com

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    Re: Shell companies steal hundreds of millions from Medicare

    In China, corporate embezzlement receives the death penalty, and the family of the person executed receives a bill for the bullet.

    I don't support the death penalty, but we definitely need stiffer punishments for white collar crime, especially where it concerns tax payer dollars.

    The huge wealth transfers from public to private coffers must end.

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    Re: Shell companies steal hundreds of millions from Medicare

    Quote Originally Posted by Luna Tick View Post
    This article makes me feel like supporting the death penalty for white collar crime. Stealing money from our program for health care for the elderly goes beyond despicable. I hope people from all ends of the political spectrum can agree that this criminal ought to receive some serious punishment. Send him to prison for a long, long time.



    Entire Article:
    Shell companies steal millions from Medicare - US news - Crime & courts - msnbc.com

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    Re: Shell companies steal hundreds of millions from Medicare

    Increased penalties will do nothing to curb this sort of crime.

    There is something about these programs that allow these crimes to succeed. THAT is what needs to be considered and addressed.
    TANSTAAFL

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    Re: Shell companies steal hundreds of millions from Medicare

    Quote Originally Posted by Mycroft View Post
    Increased penalties will do nothing to curb this sort of crime.

    There is something about these programs that allow these crimes to succeed. THAT is what needs to be considered and addressed.
    It is ripe in the whole system. The worst culprit is the US military. There are plenty of examples of people getting away with fraud and not being punished... it cost you guys billions in Iraq for example. And if people know they will get a way with it, then they will continue to do it..
    PeteEU

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