Fraudsters

Romney was a director and part owner of Damon Clinical Laboratories, a Needham-based medical testing company that in 1996 incurred what was then the biggest criminal penalty for health care fraud in US history. The company pleaded guilty to billing Medicare for more than $25 million worth of patient lab tests that were not medically necessary. When Romney sold his interest in Damon, he personally made $473,000; his company made a $7.4 million profit. But what specifically did he know about the fraud, when did he know it, and what did he and the board do to stop it?
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