Michael Hochman, MD, an ophthalmologist in Laredo, Texas, has been indicted for healthcare fraud and money laundering.
Dr. Hochman allegedly falsely diagnosed patients with various ophthalmologic diseases and degenerative eye conditions. He also allegedly directed staff to conduct fraudulent, repetitive and excessive procedures in order to maximize profits, according to an Oct. 5 news release from the U.S. Attorney's Office.
The fraudulent claims submitted to Medicare, Medicaid and Tricare totaled $402,536,174. Approximately $13,317,914 were paid by the organizations, according to the charges.
Dr. Hochman allegedly used the funds of the scheme to purchase a private airplane, luxury vehicles, high-end antiques and collectible coins.
If convicted, Dr. Hochman will face up to 10 years in prison for one count of healthcare fraud and up to 20 years in prison for four counts of money laundering. Each charge also has a maximum fine of $250,000, the release said.