NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman and Comptroller Thomas P. DiNapoli announced Feb. 15 that Arkady Goldin and Value Pharmacy Inc. (Value) have been charged with defrauding the New York State Medicaid Program out of millions of dollars.

“We allege the defendant engaged in an elaborate kickback scheme to line his pockets by defrauding Medicaid and pretending to dispense cancer medication he never actually distributed. Medicaid is meant to be a health care safety net for New Yorkers – not a bank account for criminals,” Schneiderman said in a statement. “My office will continue to fight for the integrity of the Medicaid program to ensure that our tax dollars are not wasted – and instead put toward helping our most vulnerable citizens, as intended.”

New York seeks more than $8.7 million in damages and penalties. According to Schneiderman’s office, Value’s owners funneled funds from Medicaid through shell companies in order to pay for personal expenses like travel and luxury cars.

“Goldin and his accomplices allegedly capitalized off the treatment of others' suffering to steal millions," DiNapoli said in a statement. "Through kickbacks and sham billing, Goldin and his partners diverted millions meant to provide treatment to those in need to fund their lifestyles and real estate investments. Attorney General Schneiderman and I will continue to root out public fraud and protect taxpayer funds."

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