Tuesday, January 4, 2011
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THOMASVILLE - The former CEO of Archbold Medical Center convicted on charges of Medicaid fraud and obstruction has yet to learn his fate after being convicted a month ago by a jury.
Former CEO Ken Beverly resigned from his post in 2008 and walked away with more than $6.1 million in compensation and benefits. He
was later indicted by a federal grand jury.
Convicted Dec. 8, 2010, of six felony counts related to an indictment alleging he was part of a scheme to defraud Medicaid, Beverly remains free on bond and is awaiting a sentencing hearing.
Officials with the U.S. District Court in Albany said Tuesday that a sentencing hearing has not yet been scheduled in the case.
Archbold Spokesman Mark Lowe said that the figure as noted in the hospital's Form 990 for 2009 as filed with the IRS on August 2010 is the sum of Beverly's deferred compensation and benefits package as it has accumulated over the course of his 30-plus year career with the hospital and was not a "golden parachute," as described in some media reports.
"The 'other compensation' is from his retirement program that accumulated deferred compensation over the entire term of his employment. In his case, that was in excess of 30 years of deferred compensation. It's not severance; rather, it's compensation that was earned but not paid out until retirement," Lowe said.
In a civil settlement with the U.S. government, Archbold has already paid $13 million in restitution and recompense for any reimbursements that were obtained through activity.