The Hattiesburg businessman who was indicted for fraudulently taking authorities funds by way of TRICARE, the federal government’s well being advantages program for veterans, plead guilty final week to two new charges that weren’t on his preliminary indictment.
Wade Walters, 53, pleaded guilty to conspiracy to commit well being care fraud and conspiracy to commit cash laundering. He faces up to 20 years in jail and $500,000 in fines, and is answerable for making restitution on the cash that was taken.
Because the new charges have been a part of a plea settlement, the guilty plea won’t necessitate Walters’s trial persevering with.
Walters was initially charged in September on 37 counts after spearheading greater than $510 million in well being care fraud by way of compounded ache lotions, vitamin capsules and weight-loss capsules that have been invoice to TRICARE.
Rather than writing a prescription for every remedy – which value roughly $11,000-$14,000 per ache cream prescription – Walters allegedly distributed preprinted prescription pads to maximize revenue. Refills have been despatched to sufferers mechanically.
Walters has been tied to different instances across the nation, together with one in California, in which certainly one of his companies in Utah pleaded guilty to conspiracy to defraud the U.S. authorities. His unique charges included, however weren’t restricted to, wire fraud, cash laundering, funds to non-licensed physicians, and main fraud towards the United States authorities.
The investigation into the case is ongoing, and extra individuals could possibly be charged in Mississippi and different states.