A former CFO of Sterling Medical Consultants pleaded guilty to misappropriating more than $ 1.3 million from the company, the Lexington Herald leader reported on March 17.
Thomas Samuels wrote fraudulent checks from Sterling’s bank account to his own account and to Commonwealth Nursing Services, a company in which he was charged with financial interests.
Mr. Samuels embezzled $ 1.39 million and repaid $ 339,695 between July 2016 and mid-2019, due to the $ 1 million difference in the refund, according to court documents.
Sterling Medical Consultants, based in Louisville, Kentucky, was acquired by the not-for-profit Kentucky Primary Care Association in July 2016. The Kentucky Primary Care Association serves medical providers in underserved parts of Kentucky and, according to court documents, owned all of Sterling Medical Consultant’s profits.
Mr Samuels pleaded guilty to theft in federal court on March 16 from an organization receiving federal funding. He will be sentenced in July with a maximum sentence of 10 years in prison.