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PRESS RELEASE: Former vice president DAVID MICHAEL PITTS of health care company charged with fraud scheme worth over $7.5 million

Department of Justice
U.S. Attorney’s Office
Middle District of Louisiana
FOR IMMEDIATE RELEASE
Wednesday, March 9, 2016

Former vice president of health care company charged with fraud scheme worth over $7.5 million

BATON ROUGE, LA – United States Attorney Walt Green announced today that DAVID MICHAEL PITTS, age 41, has been charged in a Bill of Information with wire fraud in connection with an alleged scheme to defraud Amedisys, Incorporated, a home health and hospice care company with a substantial presence in Baton Rouge, Louisiana. PITTS is accused of stealing $7,641,528 from Amedisys, which annually furnishes home health services to approximately 380,000 patients in 37 states, the District of Columbia, and Puerto Rico.

According to the Bill of Information, PITTS was the Vice President of Tax for Amedisys for the period January 2005 through July 2014. In this role, PITTS was responsible for all corporate tax matters, including the preparation of state and federal tax returns and the payment of state income taxes in the various states where Amedisys operated its business. The Bill of Information alleges that PITTS had the authority and ability to purchase tax credits for the purpose of executing his duty of reducing and paying state income taxes in the various states where Amedisys did business.

The Bill of Information alleges that PITTS engaged in a scheme to defraud Amedisys from October 2006 through May 2014 through an elaborate scheme involving shell entities and fictitious film tax credits. According to the Bill of Information, as part of the scheme, PITTS created a counterfeit company named “Stonehenge Entertainment” for the purpose of selling false and fictitious “Tax Credit Transfer Agreements” to Amedisys. PITTS allegedly used this company name because it closely resembled the name of a legitimate company with which Amedisys did business. PITTS also allegedly created an entity known as “Evergreen Incentives” for the purpose of selling false and fictitious “Tax Credit Transfer Agreements” to Amedisys.

In order to carry out his scheme, PITTS allegedly opened and maintained a bank account at Capital One Bank, N.A. for Stonehenge Entertainment and a separate account at Regions Bank for Evergreen Incentives. PITTS allegedly created false and fictitious “Tax Credit Transfer Agreements” and used his position as Vice President of Tax to present the false and fictitious Tax Credit Transfer Agreements to his corporate supervisors for approval, falsely representing them to be valid tax credits. Once approved, PITTS then allegedly purchased the false and fictitious Tax Credit Transfer Agreements on behalf of Amedisys.

According to the Bill of Information, in order to personally benefit from the sale of false and fictitious tax credits to Amedisys, PITTS caused electronic banking transfers to divert funds from an Amedisys account at JPMorgan Chase Bank to his accounts at Capital One Bank and Regions Bank for his personal enrichment. During the period October 3, 2006 through May 16, 2014, PITTS allegedly caused Amedisys to make 21 wire transfers totaling $7,641,528 to accounts which he controlled, and for his personal enrichment.

This matter is being handled by the United States Attorney’s Office for the Middle District of Louisiana. The investigation has been conducted by the Baton Rouge Resident Office of the Federal Bureau of Investigation, with substantial assistance provided by the victim, Amedisys, Inc. The matter is being prosecuted by Assistant United States Attorney René Salomon.

NOTE: A Bill of Information is an accusation made by the United States Attorney. The defendant is presumed innocent until and unless adjudicated guilty through a guilty plea or trial.

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About FREDERICA CADE

Most of the information you will see comes from some Federal/state Government documents or Federal/State Governm Agency. -----------------------------------------------The fellow that can only see a week ahead is always the popular fellow, for he is looking with the crowd. But the one that can see years ahead, he has a telescope but he can't make anybody believe that he has it. ~~~~Will Rogers __The woman who follows the crowd will usually go no further than the crowd. The woman who walks alone is likely to find herself in places no one has ever been before.~ Albert Einstein ~"I never work better than when I am inspired by anger; for when I am angry, I can write, pray, and preach well, for then my whole temperament is quickened, my understandingsharpen​ed, and all mundane vexations and temptations depart.” ~Dr. Martin Luther King Jr. _________________________________________________________________________________________ ~"The bosom of America is open to receive not only the Opulent and respectable Stranger, but the oppressed and persecuted of all Nations and Religions; whom we shall welcome to a participation of all our rights and privileges, if by decency and propriety of conduct they appear to merit the enjoyment".~___________________________________ George Washington, Address to the Members of the Volunteer Association of Ireland, December 2, 1783 Fredericacade@gmail.com

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