Pasco Man Gets 15 Years For $100M Insurance Fraud Scheme
A New Port Richey man was sentenced to 15 years in prison for a pharmacy scheme that involved $100 million in health insurance fraud.
Nicholas A. Borgesano Jr., 45, was also ordered to pay $54 million in restitution for his part in the fraud that involved pharmacies in New Port Richey, Hialeah and Miami.
Borgesano, the president and owner of A to Z Pharmacy in Pasco County, pleaded guilty on Nov. 6 to conspiracy to commit health care fraud and wire fraud.
Six other men were also sentenced in connection to the scheme and one more person is scheduled for sentencing on Monday.
Borgesano admitted to owning several pharmacies and shell companies used to submit false reimbursement claims for pain and scar creams and other prescription compounded medications. The fraud involved Medicare, private insurance companies and TRICARE, which insures the military and their families.
The scheme involved the manipulation of billing codes in reimbursement claims and submitting claims for pharmaceutical ingredients that Borgesano and the others did not have, according to the U.S. Department of Justice.
The men also paid kickbacks and bribes in exchange for prescriptions and patient information, the justice department said.
A to Z Pharmacy was the hub of the operation, Borgesano told authorities.
Borgesano’s co-conspirators were also charged with conspiracy to commit health care fraud and wire fraud: Bradley Sirkin, 55, of Boca Raton; Scott D. Piccininni, 49, of Fort Lauderdale; Edwin Patrick Young, 49, of New Port Richey; Wayne M. Kreisberg, 40, of Parkland; Matthew N. Sterner, 48, of New Port Richey; Peter D. Williams, 57, of New Port Richey; and Joseph Degregorio, 71, of New Port Richey.
The other pharmacies involved Medplus/New Life Pharmacy, Metropolitan Pharmacy, Havana Pharmacy, Jaimy Pharmacy and Prestige Pharmacy, according to the indictment.