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Prison time for former pharmacy owner
Updated: Thursday, 30 Aug 2012, 7:02 PM EDT
Published : Thursday, 30 Aug 2012, 7:02 PM EDT
WEST LAFAYETTE, Ind. (WLFI) - The former owner of Family PharmaCare will serve more than four years in prison after pleading guilty to Indiana Medicaid fraud and federal income tax evasion.
Federal agents raided the pharmacy on Sagamore Parkway in West Lafayette in November. The business closed.
Former owner Chad Shedron, 36, of Rossville, pleaded guilty in May to billing the Medicaid program for $3.5 million worth of fraudulent prescriptions.
Shedron was sentenced by a federal judge to 57 months of prison and one year of supervised release.
He also has to forfeit his home, $80,000 worth of jewelry, and a baseball card collection with an estimated worth of $217,000.
As part of the plea, he must pay back taxes and penalties to the IRS for more than a $500,000 of undisclosed income between 2007 and 2010.
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