Florida Pharmacy Owner Defrauded $100 Million in Compounding Scheme

A Florida pharmacy owner pleaded guilty in connection with a compounding pharmacy fraud scheme, the Justice Department announced.

Nicholas Borgesano Jr., owner of A to Z Pharmacy of New Port Richey, pleaded guilty to conspiracy to commit healthcare fraud as well as conspiracy to engage in monetary transactions involving criminally derived property. Seven co-conspirators had previously pleaded guilty.

In a plea agreement, Borgesano admitted to using several pharmacies and shell companies to defraud more than $100 million from Medicare, TRICARE and private insurers.