Photo from HHS Office of Inspector General
LOS ANGELES – A Filipino American physical therapist accused of participating in a multimillion-dollar health care fraud scheme in New York may be hiding in Manila, according to US authorities.
The US Department of Health and Human Services (HHS) Office of Inspector General on Friday highlighted Conrado Lopez Jr., 51, in a “Fugitive Friday” social media post, saying he is wanted in connection with $2.8 million in fraudulent Medicare and Medicaid claims.
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“He may be in the Philippines or the UAE,” HHS-OIG said as it urged the public to submit tips.
‘Most wanted’
Lopez, a licensed physical therapist, is listed among HHS-OIG’s most wanted fugitives….
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.