Distinguished Doctor Pleads Guilty of Securities and Health Care Fraud
A past medical director with a distinguished AIDS clinic in Florida has pleaded guilty to securities fraud and health care fraud. The charges are levied against Dr. Clark Mitchell because of his position with Mutual Benefits Corp. Prosecutors claim he stole almost $1 billion USD from investors. Before being forced to close in 2004, Mutual Benefits Corp., bought life insurance policies from elderly and terminally ill patients and sold the expected payouts to tens of thousands of investors.
Former Medical Director at AIDS Clinic Plead Guilty to Fraud
As part of the plea deal Dr. Mitchell made with prosecutors, they will recommend the judge sentence be no longer than 10 years. Prosecutors have charged Dr. Mitchell with lying to shareholders by signing false life expectancy estimates. The U.S. Attorney’s Office is hoping to keep investors informed on this case through a new website at www.usdoj.gov/usao/fls/VictimWitness.html.
Related Links:
Former Medical Director at AIDS Clinic Plead Guilty to Fraud
Doctor Involved in Insurance Scheme Set to Plead Guilty to Fraud
Doctor Pleads Guilty in $1B Viatical Scheme
Florida Doctor Pleads Guilty in $1 Billion Fraud
Doctor Pleads Guilty in Securities, Health Care Fraud