Seimens executives plead guilty in hospital fraud case
Healthcare Auditing Weekly, March 6, 2007
Two former Siemens executives pled guilty last week to "fixing" a $49-million contract to provide equipment to an Illinois hospital.
To engineer the fraud, the two executives, Daniel P. Desmond and Ellen Roth, claimed they were following rules for fostering a minority participation in their contract with John H. Stroger hospital. In their bid, two claimed they had joint-ventured with a minority partner which would share 30% of profits from the deal. In reality, the two had set up a behind-the-scenes payoff under which the alleged minority partner would get a flat $500,000 fee for its participation.
Siemens has agreed to pay a $1 million fine and $1.5 million in restitution for its role in the fraud.
Click here to read the Associated Press' news report.
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