Dr. Sushil Sheth faces as long as 10 years in prison and a $250,000 fine

Federal authorities have charged a cardiologist from the southern Chicago suburbs with bilking Medicare and insurance companies out of more than $13 million for care they say he never provided. <br />According to U.S. Attorney Patrick Fitzgerald's office, 49-year-old Dr. Sushil Sheth faces as long as 10 years in prison and a $250,000 fine for one count of health care fraud. Fitzgerald's office alleged Friday that Sheth received $13.4 million between January 2002 and July 2007 in fraudulent reimbursement for high levels of cardiac care that the office says the doctor never performed. <br />The (Tinley Park) SouthtownStar contacted Seth Friday at his Burr Ridge home and he denied the allegations. Sheth is affiliated with several hospitals in the southern suburbs and allegedly used his hospital access to obtain patient information.

Dr. Sushil Sheth faces as long as 10 years in prison and a $250,000 fine

Federal authorities have charged a cardiologist from the southern Chicago suburbs with bilking Medicare and insurance companies out of more ...

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Michael Vorce, a former West Michigan boat broker who investigators say is behind a multimillion-dollar loan fraud scam that cost local banks millions

Michael Vorce, a former West Michigan boat broker who investigators say is behind a multimillion-dollar loan fraud scam that cost local banks millions, was taken into federal custody this week. Vorce, 31, was arrested in Chicago late Tuesday, along with a Byron Township man, in what authorities say was another effort to allegedly defraud a bank. A hearing that had been scheduled for Friday in Milwaukee was postponed until next Thursday. Vorce and the other suspect will remain in custody at least until that hearing. Vorce, formerly of Alpine Township, allegedly tried to use the identity of a Milwaukee attorney to secure a $391,450 loan. That loan was ostensibly to buy a 48-foot Sea Ray yacht, according to the case filed in U.S. District Court in Milwaukee. The federal complaint alleges Vorce and James Jett, 29, initiated the scheme with a fraudulent loan application June 30. They face felony charges of bank fraud and conspiracy to commit bank fraud, along with possible identity theft charges. How the situation could be tied to an ongoing criminal investigation of Vorce in Grand Rapids is unclear. In a press release, the FBI said the pair are involved in a multi-state identity theft and bank fraud scheme involving at least $2.6 million at four financial institutions. "The investigation is continuing as the individuals appear to be part of a larger fraud scheme," the statement said. FBI spokesman Leonard Peace said he didn't know whether the larger scheme not detailed in the court complaint included activity in Michigan.

Michael Vorce, a former West Michigan boat broker who investigators say is behind a multimillion-dollar loan fraud scam that cost local banks millions

Michael Vorce, a former West Michigan boat broker who investigators say is behind a multimillion-dollar loan fraud scam that cost local bank...

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Fraud activities involving the Black Disciples and Black P Stone Nation gangs

More than two dozen people have been indicted following what began as a federal investigation into the laundering of drug money through Chicago real estate transactions, authorities said Wednesday.<br />The FBI said the investigation began in 2005 when agents and U.S. postal inspectors started looking into alleged fraud activities involving the Black Disciples and Black P Stone Nation gangs. Investigators were targeting the use of drug money to buy and renovate properties, according to the FBI.<br />A host of loan officers and processors, property managers, real estate investors and straw purchasers were indicted Tuesday for allegedly taking part in a mortgage fraud scheme uncovered by authorities.<br />Those indicted are expected to appear in court next week, according to the U.S. attorney's office.<br />The investigation expanded after agents found questionable activity at a mortgage brokerage known as Equity Express and traced property transactions in Chicago, Harvey and Chicago Heights.<br />According to the indictment, defendant Augustus Wright owned a car company known as South Shore Imports and accepted money from an individual he knew to be a narcotics trafficker. "Individual A wanted Wright to 'clean up' the money by using it to purchase and renovate real estate," the indictment said.<br />Funds were shared with defendants Nowell Lando and Raymie Henderson, who owned and operated R&P New Development, the indictment said.<br />Agents and postal inspectors eventually located some 100 properties tied up in mortgage fraud that cost lenders millions of dollars.<br />Some defendants allegedly recruited others to act as buyers, sometimes telling them they would have no mortgage payments if they agreed to attend closings. Fraudulent loan applications were created, authorities said, and loans paid out to participants who pocketed the money. A number of the properties involved in the scheme were "abandoned or in poor condition," according to court records.

Fraud activities involving the Black Disciples and Black P Stone Nation gangs

More than two dozen people have been indicted following what began as a federal investigation into the laundering of drug money through Chic...

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