Thursday, February 24, 2011

Pennsylvania Man Charged With Embezzling Nearly $2.5 Million

Ronald A. McFarland, 53, of Port Matilda, Pennsylvania, has been charged with embezzling some $2.46 million from Rosewood Cancer Care Inc., of Pittsburgh, and Oaktree Cancer Care Inc., of East Liverpool, Ohio for which he and his companies provided third party health insurance reimbursements services. According to prosecutors, McFarland, president of Verimed Services Inc. and Medical Alliance Partners, LLC, diverted insurance premium funds to his business and personal accounts. He is also accused of making false entries in books and records in an effort to conceal the misappropriations.

Read the story here and here.

Update (3/18/11): McFarland pleaded guilty to theft and embezzlement charges in connection with his misappropriation of $2.46 million from two cancer treatment centers. The thefts reportedly spanned nearly three years, from January 2007 until December 2009.

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