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D.C. Chartered Health Plan, the beleaguered company which was once the largest manager of health care for low-income D.C. residents, has filed suit against its former owner, Jeffrey Thompson, for allegedly stealing nearly $17 million from the taxpayer-funded health plan.
The suit, filed by the plan’s city-appointed receiver, “seeks to recover moneys due Chartered from its parent company and Jeffrey Thompson.”
Charted currently owes District health providers an estimated $60 million, and it only has assets to cover a small portion of that.
As explained by the Post’s Mike DeBonis, “the bulk of the $17 million represents Chartered money held in collateral by Cardinal Bank to secure a loan that the holding company took out in 2008 to settle a previous lawsuit that claimed Chartered and its affiliates had defrauded the city.”
The holding company, D.C. Healthcare Systems Inc., recently defaulted on the loan, leading Cardinal to seize $12 million, according to the suit, which the Post uploaded.
Read more about the suit here.
IN OTHER NEWS:
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* The Virginia gubernatorial candidates, Terry McAuliffe and Ken Cuccinelli split time and separately addressed the same crowd Thursday at the annual Virginia Public Access Project’s fundraising event in Richmond. (News4)
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