The former CEO of Powell (Wyo.) Valley Healthcare is facing charges for allegedly embezzling about $850,000 while he led the organization last year, according to a Powell Tribune report.
HealthTech Management Services has filed suit against Paul Cardwell, claiming he authorized spending $847,934 between March and September 2011 — the entirety of his CEO tenure — to recruit physicians and other personnel.
The lawsuit claims, however, that the money was actually sent to a shell company established by an acquaintance of Mr. Cardwell, with a substantial portion of the funds allegedly kicked back to him.
HealthTech was hired to provide management services to the hospital system and is the company that formerly employed Mr. Cardwell when he served as CEO. A HealthTech spokesperson did not comment as to whether any money won in the lawsuit would be turned over to the health system, according to the report. Powell Valley Healthcare is not involved in the suit.
Mr. Cardwell is currently believed to reside in Thailand, according to the report.
Two Former NY Presbyterian Hospital Execs Convicted of Wire Fraud
14 Hospitals Settle False Claims Allegations Linked to Kyphoplasty Billing
HealthTech Management Services has filed suit against Paul Cardwell, claiming he authorized spending $847,934 between March and September 2011 — the entirety of his CEO tenure — to recruit physicians and other personnel.
The lawsuit claims, however, that the money was actually sent to a shell company established by an acquaintance of Mr. Cardwell, with a substantial portion of the funds allegedly kicked back to him.
HealthTech was hired to provide management services to the hospital system and is the company that formerly employed Mr. Cardwell when he served as CEO. A HealthTech spokesperson did not comment as to whether any money won in the lawsuit would be turned over to the health system, according to the report. Powell Valley Healthcare is not involved in the suit.
Mr. Cardwell is currently believed to reside in Thailand, according to the report.
More Articles on Fraud and Hospitals:
Former Houston Hospital Executive Pleads Guilty to $116M Kickback SchemeTwo Former NY Presbyterian Hospital Execs Convicted of Wire Fraud
14 Hospitals Settle False Claims Allegations Linked to Kyphoplasty Billing