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$60 Million Insurance Fraudster Pleads Guilty in New York, Prosecutors Say One of the Worst Insurance Scams in the History of the State

$60 Million Insurance Fraudster Pleads Guilty in New York, Prosecutors Say One of the Worst Insurance Scams in the History of the State

A New Jersey man pleaded guilty to an insurance grant fraud in New York. The grant value is over $60 million. Federal prosecutors termed this $60 million insurance scam in New York one of the worst no-fault insurance scams in the history of the state.

The mastermind behind the whole scam is Bradley Pierre, 41, of Closter.

In a guilty plea to conspiracy to commit bribery and conspiracy to cheat the IRS, he acknowledged that he was the mastermind behind the scheme.

According to the U.S. Attorney’s Office for the Southern District of New York, he has pleaded guilty to planning and executing a conspiracy to commit bribery and cheat the IRS.

Between 2008 and 2021, Pierre illegally oversaw several medical clinics in the New York region. He also allegedly colluded with others to submit bills to insurance companies, which misrepresented the clinics’ operations as being run by licensed physicians, according to officials.

Additionally, according to the prosecution, Pierre trained medical professionals to lie under oath about owning and running the clinics.

According to court documents, Pierre embezzled more than $20 million from the clinics by moving money to his personal accounts and using the clinic bank accounts to cover personal costs.

According to court documents, Pierre embezzled more than $20 million from the clinics by moving money to his personal accounts and using the clinic bank accounts to cover personal costs.

According to investigators, Pierre also misrepresented personal expenses like his wedding and home improvements as business expenses and concealed income from the IRS by using two businesses, Medical Reimbursement Consultants and Marketing 4 You.

He allegedly fooled the IRS out of almost $1.5 million. Pierre is waiting for his sentence, which is scheduled for May 7, 2024.

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