US Federal Prosecutors: Millions stolen from Medicare wound up in Cuban banking system
- Miami Herald
- Category: Headlines
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- Federal prosecutors say they uncovered an international money-laundering operation that moved millions in stolen Medicare dollars to Havana's banks
- Republic Bank in Trinidad (photo) had firm instructions on two of those accounts to wire all the money immediately into the Cuban banking system
- 70 medical company owners in South Florida submitted more than $374 million in claims to Medicare, and were reimbursed about $70 million
- The Institute for Cuban & Cubanamerican Studies denounced the scam & Cuban involvement early in 2011 ◄◄ click to see report
- Cuban analyst Maria Werlau said if the money indeed wound up in Cuba's national banking system, "it is almost impossible to conceive that anyone not in the pay of Cuban intelligence would pour millions into Cuban banks" ◄◄ click to see report
Miami, June 18.─ In an unprecedented case, federal prosecutors have charged a Miami man with engaging in a massive money-laundering operation that moved millions stolen from the federal Medicare program into Cuban banks.
Prosecutors say Oscar Sanchez, 46, was a key leader in a group that funneled $31 million in Medicare dollars into banks in Havana — the first such case that directly traces money fleeced from the beleaguered program into the Cuban banking system.