The owner of a Florida company has been convicted in Baton Rouge federal court of submitting false health insurance applications for plans available under the Affordable Care Act, U.S. Attorney Brandon Fremin said Thursday.
Keaton L. Copeland, 34, who owned and controlled Express ACA, a health insurance brokerage company in Miami, filed the bogus applications to cash in on more than $500,000 in federal subsidies meant for low-income people, federal prosecutors have said.
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Express ACA employees submitted thousands of health insurance applications in 2014 and 2015 on behalf of individuals, many of whom did not need health insurance and had no knowledge that the applications had been filed, Fremin said.
Copeland expected to receive commission fees from insurance companies, but many of the companies, including Blue Cross Blue Shield of Louisiana, immediately discovered the fraud and prevented further attempts by Copeland to defraud other insurance firms, Fremin stated.
Copeland, who was found guilty on five counts of wire fraud and one count of wire fraud conspiracy, faces up to 20 years in prison.