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By Dr. David Edward Marcinko MBA CMP©
SPONSOR: http://www.CertifiedMedicalPlanner.org
MONEY LAUNDERING
Charges of money laundering may seem foreign to the practice of medicine. The term “money laundering” evokes visions of a suitcase of drug cash being brought into a legitimate business and being transformed into that business’s receipts and later tunneled through legal channels.
Citation: https://www.r2library.com/Resource/Title/0826102549
In medicine the route beings with receipt of a claim payment check (i.e., a check as opposed to the drug dealer’s cash). The check is then deposited into the professional corporation’s checking account. The funds are then paid to the physician in the form of wages. Those wages are then deposited into the physician’s personal checking account.
Those funds and other similarly situated funds are then accumulated until a check is written to pay for a new automobile. The money received from the alleged fraudulent insurance claim has successful been “laundered” into a hard asset (e.g., Jaguar XJL-V8 4 door luxury sedan).
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Filed under: "Doctors Only", Accounting, Health Law & Policy, Touring with Marcinko | Tagged: Jaguar, money laundering, money laundering in medicine |
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