Savannah Man And Son Pay Millions In Restitution For Fraud Schem - Local news, weather, sports Savannah | WSAV On Your Side

Savannah Man And Son Pay Millions In Restitution For Fraud Scheme

Posted: Updated:
SAVANNAH, GA -

A Savannah millionaire and his son will pay nearly $30 million dollars in restitution to taxpayer funded healthcare programs following their conviction on racketeering and money laundering charges. United States Attorney Edward Tarver made the announcement in Savannah today, saying it's the largest restitution payment in the history of the Southern District of Georgia.

Savannah resident Martin Bradley, Jr and his son, Martin Bradley, III, were indicted in March of 2005 on 288 counts alleging various schemes to defraud Medicare, Medicaid programs, drug manufacturers and others of tens of millions of dollars. The schemes stretched from Puerto Rico to California. Among other things, the Bradley's company, Bio-Med, was found to have contracted with hemophiliac patients in California to sell the company their un-used medications for much less than the 50 to 60-thousand dollars a month the medication cost. The medication had already been paid for and provided to the patients by Medi-Cal. The company would then stock and re-sell the medication at full price.

Another scheme outlined by the U.S. Attorney involved Bio-Med paying doctors in Florida pennies on the dollar for their un-used drugs – which in many cases had already been purchased from Bio-med by the state's Medicaid program. Bio-Med would then stock the medicines for resale. The federal government said Bio-Med's schemes brought in millions of dollars a year.

Bradley, Jr received a prison sentence of 15 years. Bradley, III received a sentence of 25 years. The company was liquidated along with Bradley family assets including car collections, yachts, planes, vacation homes and office buildings to pay the restitution. Total received from the liquidation was in excess of $60 million. Approximately $15 million went to fines imposed by the court, $39.5 million to satisfy the forfeiture judgment and just over $27.8 million was distributed in restitution today. The recipients include:

Florida Medicaid - $10,117,601.03

Medi-Cal - $2,260,514.01

Genetically Handicapped Persons Program - $10,419,801.96

Medicare - $2,738,373.50

South Counties Employees/Employer Trust – 41,907,975.53

Blue Shield Of California - #353,338.52

Powered by WorldNow

1430 East Victory Drive
Savannah, GA 31404

Telephone: 912.651.0300
Fax: 912.651.0320
Email: newsemailalert@wsav.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.