Recently, Attorney General Bill McCollum announced a $27 million Medicaid fraud settlement. On the other hand, for those owners eager to get out of their timeshares who were victimized by timeshare resale companies, McCollum also announced a separate case.
The fraud settlement is against the Teva Pharmaceutical company. According to McCollum, it inflated the drug prices it reports to the government health care program. By pumping up its costs, the company reaped millions in excess reimbursements. As McCollum said, they ripped off the Medicaid system.
Here’s how the settlement will be broken down: $7.1 million for Florida’s Medicaid agency, $3.5 million go to the state’s general treasury and $387,000 for a fund that rewards Medicaid fraud tipsters. Meanwhile, the balance will be paid to the federal government.
McCollum also announced lawsuits against three timeshare resale companies, which were the largest source of complaints the attorney general’s office received this year. The suits allege the companies based in Orlando, Clearwater and Palm Beach. Such companies falsely promised timeshare owners that they had buyers lined up for their vacation properties. According to Economic Crimes Director Mary Leontakianakos, there’s also a new scam where timeshare companies falsely claim they have the attorney general’s endorsement and that concerns the agency from a consumer protection standpoint.