Real Trouble

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Investing in real estate is a great way to create a source of ongoing income. The goal is to buy property that will increase in value, making it part of the foundation of a good wealth strategy. A dentist who operated her practice in two counties near Atlanta invested in real estate by using illegally-obtained government funds to build her wealth. Now she’s in real trouble.

The dentist carried out her fraudulent scheme by instructing an employee to ”backdate” or falsify claims that were submitted to Medicaid. For four years, she falsely certified that she treated patients when she had not. (In some instances she was out of the country when she claimed the services had occurred.) In addition, many of the patients were ineligible for Medicaid services in the first place. (Her practice received nearly $1 million for the bogus claims and she in turn spent that money on real estate in the Atlanta area.)

The dentist pleaded guilty and was sentenced to 18 months for filing false claims totaling $996,862. She agreed to repay the full amount to the government and forfeit her interest in more than a dozen properties.

It looks like this dentist’s wealth building strategy turned out to be a bad one. (It’s never a good idea to steal from the government to make yourself richer.) She’s about to move into a new residence where she will be investing a lot of time staring at cinderblock walls and steel bars. Let’s hope she’ll brush up on her investment skills and choose a better path to wealth moving forward.

Source: Today’s ”Fraud of the Day” is based on an article entitled, ”Metro Atlanta dentist gets federal prison time for Medicaid fraud,” published by The Atlanta Journal-Constitution on February 15, 2017.

A dentist who practiced in Gwinnett and DeKalb counties is headed to federal prison for Medicaid fraud.

Dr. Oluwatoyin Solarin was sentenced to a year and six months for filing false claims worth nearly $1 million, the U.S. Attorney’s Office in Atlanta announced Wednesday.

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Larry Benson, Senior Director of Strategic Alliances, LexisNexis Risk Solutions - Government

Larry Benson is responsible for developing strategic partnerships and solutions for the government vertical. His expertise focuses on how government programs are defrauded by criminal groups, and the approaches necessary to prevent them from succeeding.

Mr. Benson has 30 years of experience in sales and business development. Before joining LexisNexis® Risk Solutions, he spent 12 years founding and managing two software technology startups. During the 1990s he spent 10 years as a Regional Director helping to grow a New England-based technology company from 300 employees to 7,000. He started his career with Martin Marietta Aerospace working on laser guided weapons and day/night vision systems.

A sought-after speaker and accomplished writer, Mr. Benson is the principal author of “Fraud of the Day,” a website dedicated to educating government officials about how criminals are defrauding government programs. He has co-authored WTF? Where’s the Fraud? How to Unmask and Stop Identity Fraud’s Drain on Our Government, and Data Personified, How Fraud is Changing the Meaning of Identity.

Benson holds a Bachelor of Science in Physics from Albright College, and earned two graduate degrees – a Master of Business Administration from Florida Institute of Technology, and a Master of Science in Engineering from Lehigh University.