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Resale Business

Senior Director of Strategic Alliances
LexisNexis Risk Solutions - Government

If you are set on reselling, here are some tips to succeed. The most popular, and profitable items are typically furniture, artwork, and rugs. However, you can also find success by selling smaller items like lamps, mirrors, and knick-knacks. You could also buy wholesale home décor items and resell them at a profit to make your reselling business even more profitable. And if all else fails, consider black-market medications like Boris Aminov did.

From at least 2017 through 2023, Aminov engaged in a scheme that defrauded Medicaid, Medicare, and private insurance companies out of at least $20 million through trafficking in black-market HIV medication. Aminov encouraged low-income patients who had been prescribed HIV medication to sell their medication to him. In doing so, he exploited hundreds of low-income individuals, jeopardizing the health and safety of those vulnerable patients.

To create the demand for his used products, Aminov distributed the black-market HIV medications to pharmacies that were owned and operated by his friends and fellow fraudsters in New York. Medication was then dispensed to unknowing patients who believed they were receiving legitimate medication. To cover up his earnings, Aminov funneled money through bank accounts linked to the pharmacies into shell companies he controlled. The dark side of reselling would be the vast number of victims. The low-income patients, mis-informed patients, and the U.S. taxpayer.

On December 12, 2023, Aminov pleaded guilty to health care fraud.

Excellent investigative work by the FBI.

Today’s Fraud of The Day is based on article “NYC-based leader of $20M black-market HIV medication fraud pleads guilty” published by Audacity on December 12, 2023

A Brooklyn man pleaded guilty on Monday for running a years-long scheme to defraud Medicaid, Medicare, and private insurance companies out of at least $20 million, prosecutors said. Boris Aminov, 47, and 10 other people were charged two separate indictments unsealed in March and October that detail a scheme to defraud insurance companies of millions of dollars through the trafficking of black-market HIV medication.

Damian Williams, the U.S. attorney for the Southern District of New York, said Aminov “orchestrated a scheme to get rich by lying to Medicaid, Medicare, and private insurance companies and by depriving vulnerable HIV patients of legitimate and safe medications.” “Aminov also made millions of dollars through buying and distributing black-market HIV medications to pharmacies all over New York City,” Williams continued in a statement. “This Office will be tireless in its pursuit of those who seek to line their pockets by preying on vulnerable members of society.”

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