Dr. Krishnaswami Sriram, 44, a cardiologist from Lake Forest pleaded guilty on Thursday to what prosecutors called a massive fraud scheme, admitting he claimed to have provided care for patients after they had died.
The Chicago Tribune reported that Sriram admitted improperly billing Medicare, Medicaid and private insurers for tests, services and procedures that he never performed for more than five years. He also made claims for procedures when he was actually out of the country, and in some cases claimed to have worked more than 25 hours in one day, treating as many as 100 patients.
He faces a maximum sentence of 18 years in prison, but remains free on bail, as the judge noted that he had posted a $3 million bail bond secured by real property, and had remained in the U.S. for two years prior to trial.
While making no excuses for the instances of fraud, defense attorneys asserted that Dr. Sriram, a naturalized U.S. citizen from India, had worked extremely hard in providing medical services to Chicago’s poor and disadvantaged.
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