The former president of Blue Ash, Ohio-based Premier Healthcare Management was sentenced to 42 months for defrauding a bank of $59 million, the Justice Department announced Oct. 7.
Harold Sosna, 68, of Cincinnati, was the president of Premier, which operated nursing homes and provided assisted living services and post-acute and long-term care for patients recovering from medical procedures, when he participated in a check fraud scheme. A judge sentenced Mr. Sosna about one year after he pleaded guilty to one count of fraud, according to the Cincinnati Business Courier.
Mr. Sosna wrote checks between various accounts under his control and associated with Premier to manipulate the balance in the accounts and create the false appearance that the accounts had sufficient funds, according to information provided during Mr. Sosna's plea hearing, cited by the Justice Department. The scheme resulted in banks honoring checks drawn against accounts with insufficient funds.
S&T Bank, headquartered in Pittsburgh, incurred a loss of $58.2 million because of the scheme, according to the Justice Department.