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Doctor loses at least four homes, sentenced to federal prison for healthcare fraud amounting to $38M

The Miami doctor purchased numerous homes and luxury vehicles with the money, the DOJ said
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A Florida doctor accused of defrauding insurance companies out of $38 million has had to forfeit multiple homes and luxury vehicles as he heads to federal prison for 60 months, a judge has ordered.

63-year-old Armando Valdes of Miami was charged with submitting approximately $38 million in fraudulent claims to United Healthcare and Blue Cross Blue Shield, according to the U.S. Attorney's Office for the Southern District of Florida. Valdes billed the insurance companies saying his practice was performing infusions of the prescription drug Infliximab.

Valdes was ordered by authorities to give up at least four properties, including a beachfront condominium, as well as "numerous" luxury vehicles, paid for with money obtained through his fraud scheme, the Department of Justice said.

As the Miami Herald reported, Valdes ended up forfeiting five pieces of real estate. The property addresses were listed, located in various areas, including Pompano Beach, Aventura, and Estero, Florida.

Authorities said Valdes tried to cover up his crimes by distancing himself on paper from his medical clinic. In one example, investigators say he hired a 91-year-old physician at this Gasiel Medical Services practice who was rarely found to have treated patients and had never prescribed Infliximab. Valdes listed the physician as the provider of the prescription infusions.