West Bloomfield CEO sentenced in $150 million healthcare fraud, opioid, money laundering scheme

Proceeds of the fraud were used to fund private jet flights, courtside tickets to the NBA Finals, and purchase of luxury automobiles, jewelry and real estate, the DOJ release said.

Rashid was also ordered to pay more than $51 million in restitution to Medicare, as well as forfeiture to the United States of property traceable to proceeds of the scheme, including more than $11.5 million, commercial real estate, residential real estate, and a Detroit Pistons season ticket membership, the release stated.

Rashid pleaded guilty in 2018 to one count of conspiracy to commit health care fraud and wire fraud, and one count of money laundering. Twenty-one other defendants, including 12 physicians, have been convicted thus far, including four physicians who were convicted after a one-month trial in 2020. Rashid is the second defendant to be sentenced.