Jury Decides Fate of Sewell Man Accused In $4.6 Million Insurance Fraud Scheme

CAMDEN, NJ — A medical sales representative from Sewell was found guilty Tuesday on charges related to defrauding public health insurance plans out of more than $4 million, the United States Attorney General's office said.

Steven Monaco, 40, was convicted of one count of conspiracy to commit health care fraud and wire fraud, eight counts of health care fraud, eight counts of wire fraud and one count of conspiracy to violate the Anti-Kickback Statute and the Travel Act, according to the attorney general.

The charges stemmed from two different schemes that Monaco led, the attorney general said. Monaco received $36,000 in commissions spurred from the first scheme and he received approximately $350,000 and caused health insurance plans to lose more than $4.6 million from the second scheme, the attorney general continued.

Monaco faces up to 265 years in prison when he is sentenced on Aug. 24, according to a U.S. Attorney General press release. All the counts also carry a $250,000 fine or twice the amount gained or lost from the offense, the press release also said.

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