A health technology start-up company’s executive obtained roughly $1 billion fraudulently.
The Department of Justice announced that three executives from a Chicago-based health technology company were sentenced for a scheme that defrauded the company’s clients, lenders, and investors of about $1 billion. Two of the executives were co-founders of the company, Outcome Health, and the third had served as chief operating officer and chief financial officer.
“Outcome’s former executives deceived their clients, their auditor, their lenders, and their investors for years,” said Principal Deputy Assistant Attorney General Nicole Argentieri, head of the Justice Department’s Criminal Division. “Their sentences should serve as yet another reminder that ‘faking it until you make it’ is not an acceptable practice for any business, whether that company is a technology start-up or a well-established corporation. Lying about your revenue to obtain customers or financing is fraud, plain and simple. The Criminal Division is committing to holding companies and their executives accountable for their misconduct.”
As the Lord Leads, Pray with Us…
- For Principal Deputy Assistant Attorney General Argentieri to be led by the Lord as she heads the DOJ’s Criminal Division.
- For Attorney General Merrick Garland to seek God as he oversees the Justice Department.
Sources: Department of Justice
