Coastal Orthopedics and Sports Medicine exec admits to $850k in fraud — 5 takeaways

Written by Mary Rechtoris | September 21, 2015 | Print  | Email

David Brooks, a former financial accounting manager at Coastal Orthopedics and Sports Medicine of Southwest Florida, plead guilty to mail fraud, according to Business Observer.

Here are five takeaways:

 

1. Coastal discovered Mr. Brooks used company accounts to purchase $702,091 in American Express gift cards between January 2012 to June 19, 2013.

 

2. Mr. Brooks used the gift cards for personal expenses such as legal fees associated with his Ohio criminal case.

 

3. Officials claim Mr. Brooks defrauded Coastal Orthopedics and Sports Medicine of approximately $858,883.

 

4. Mr. Brooks used 10 gift cards, which were paid for with Coastal's funds, to buy a 2012 Jeep Liberty.

 

5. He faces up to 20 years in prison.

 

More articles on sports medicine:
Orthopedic surgeon Dr. Michael Reilly's whistleblower lawsuit results in $69M+ penalty for Broward Health — 7 things to know
North Texas districts have 2.5k+ concussions in 1 year — 5 observations
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