Five men in Florida have recently been indicted on charges of workers' compensation fraud after investigators linked them to a $100 million fraud scam.
According to the Property Casualty Insurers of Assocaition of America, The investigation began in 2002 when a stop-work order was issued to MiraLink Group, a Jacksonville leasing company, which is now non-operational. A statement from Florida's Chief Financial Officer Alex Sink, stated that MiraLink was using Regency Insurance of the West Indies, an unauthorized entity, to issue phony workers' comp policies across the U.S.
As a result of the fraud, workers in Florida and across the country were left without workers' comp benefits and appropriate medical care.
Owner and operator of MiraLink, Thomas King, faces up to 20 years in prison and an order to pay up to $5.8 million in restitution. Also involved was former Chief Executive Officer of TTC Illinois, Michael Lee McCafferty, who faces 18-33 months in prison and ordered to pay $7 million in restitution.
Three of the five men indicted are facing 215 years or more in prison if convicted.
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