Insurance Brokerage Firm, Marketing Company Convicted, Affordable Care Act Enrollment — President of Insurance Brokerage Firm and CEO of Marketing Company Convicted in $233M Affordable Care Act Enrollment Fraud Scheme | United States Justice Department.
Lloyd and Strong also conspired to bypass the federal government’s attempts to verify income and other information and deliberately submitted applications to Medicaid for various individuals in a way that guaranteed their denial so that they could sign up these same consumers for a fully subsidized ACA plan outside of the open enrollment period and therefore maximize their commissions year-round. Finally, evidence presented at trial showed that the defendants financed the purchase of luxury homes and vehicles with fraud proceeds from this scheme, for which the jury convicted them of money laundering.Lloyd
and Strong were both convicted of one count of conspiracy to commit wire fraud, three counts of wire fraud, and one count of conspiracy to defraud the United States. Steven Strong was also convicted of two counts of money laundering. Each defendant carries a maximum potential penalty of 20 years in prison for their conviction of conspiracy to commit wire fraud, 20 years in prison for each substantive count of wire fraud, and five years in prison for conspiracy to defraud the United States. The Justice Department takes such conduct seriously and will continue
to hold criminals accountable who seek to steal taxpayer dollars by exploiting vulnerable people and endangering the health and safety of our communities.”“Health care fraud is nothing new to South Florida as many scammers see this as a way to earn easy, though illegal, money,” said Special Agent in Charge Brett Skiles of the FBI Miami Field Office. Steven Strong faces a maximum of 10 years in prison for each count of money laundering. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with the Office of the Inspector General for the Department