Pharmacy CEO Convicted on All Counts in $160M Medicare Fraud Trial

The CEO of a company that operated 14 pharmacies mostly in the Houston area was convicted by a jury Tuesday afternoon on 15 charges — including conspiracy to commit healthcare and mail fraud, healthcare fraud, money laundering, bribery and conspiracy to commit bribery — related to his role in what prosecutors described as a four-part, $160 million scheme.

Mohamed Mokbel, former CEO of 4M Pharmacies, had argued that all he was guilty of was trying to compete with the powerful pharmacy benefit managers that administer prescription drug programs for health plans and control 80 percent of the market.