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Mississippi Businessman Indicted in Massive Fraud Scheme

The scheme targeted people insured by TRICARE, which covers military members, their families, retirees and some National Guard members and reservists. Photo by Bill Oxford on Unsplash

The scheme targeted people insured by TRICARE, which covers military members, their families, retirees and some National Guard members and reservists. Photo by Bill Oxford on Unsplash

JACKSON, Miss. (AP) — Federal prosecutors say a Mississippi businessman has been indicted in one of the nation's largest health care fraud investigations.

The U.S. Department of Justice on Thursday announced that 52-year-old Wade Ashley Walters of Hattiesburg is charged for his alleged role in a scheme involving fraudulent prescriptions.

Prosecutors say the fraud led to TRICARE and other health care benefit programs reimbursing various companies more than $510 million.

The scheme targeted people insured by TRICARE, which covers military members, their families, retirees and some National Guard members and reservists.

Authorities said Walters co-owned pharmacies and pharmaceutical marketing firms.

In March, Walters pleaded guilty on behalf of his company, CFK. The company was convicted of one count of conspiracy to commit false claims, was fined $25,000 and ordered to repay almost $622,000.


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