Warren County native Wade Walters, 54, has been sentenced to 18 years in federal prison for his involvement in one of the largest health care fraud schemes in Mississippi’s history.
Walters pleaded guilty last July to conspiracy to commit health care fraud and one count of money laundering, avoiding trial on 37 charges related to a widespread fraud operation. The scheme, which spanned multiple individuals, is believed to have cost the state over $510 million.
The indictment detailed Walters’ role in paying kickbacks to medical practitioners and marketers in exchange for prescribing and referring fraudulent prescriptions for unnecessary compounded medications. These prescriptions were then dispensed by Walters’ pharmacies. Additionally, Walters was accused of laundering the fraudulent proceeds.
Alongside his prison sentence, U.S. District Judge Keith Starrett in Hattiesburg ordered Walters to pay $287.7 million in restitution and fined him $250,000. Walters is also required to forfeit $56.5 million in cash and other assets linked to the fraud scheme.
Several other individuals, including fellow Warren County native Chad Barrett, are awaiting trial for their alleged roles in the case.
