Tuesday, December 23, 2008

Florida Bank Exec Sentenced To 3 Years For Money Laundering Role In Healthcare Fraud Scheme

Javier J. Ortiz, 36, of Miami, Florida and a former vice president of Wachovia Bank branch in Miami's West Gables Financial Center, was sentenced yesterday to 3 years in prison for money laundering in connection with a $48 million Medicare fraud case in South Florida. According to prosecutors, Ortiz conspired with Angel Castillo Jr. in defrauding Medicare by opening bank accounts through which fraudulent Medicare reimbursements were deposited by Castillo. Some $400,000 was laundering in this way between 2005 and 2006. Ortiz had plead guilty in October to an information conspiracy to commit money laundering. Castillo was separately charged and was sentenced to 19 years in prison for orchestrating the Medicare fraud.

Read the story here and here.

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