The US Department of Justice just came out with criminal charges alleging Outcome Health cofounders Rishi Shah and Shradha Agarwal and two other former executives of conducting a $1 billion fraud scheme.
The charges were announced by the U.S. Department of Justice four weeks after Outcome agreed to pay $70 million to end its related criminal probe. They said this enabled the Chicago-based company to attract investors, such as affiliates of Goldman Sachs Group Inc, Google parent Alphabet Inc and Pritzker Group, and obtain a $5 billion valuation by 2017. Forbes magazine in 2017 estimated Shah's net worth at $3.6 billion.
Purdy's lawyer had no immediate comment. A lawyer for Desai did not immediate respond to requests for comment.
Maybe they should’ve IPOd before getting caught. Jokes on them
Fraud in medical marketing? Wow, it's a serious type of criminal case!