SEC Adds New Suit To Ex-Wellcare CEO's Legal Woes

Law360, New York (January 10, 2012, 7:15 PM EST) -- The U.S. Securities and Exchange Commission filed a new insider trading lawsuit on Monday against the former CEO of Wellcare Health Plans Inc., who already faces fraud charges over an alleged $40 million scheme to defraud state-funded health care providers.

The SEC says ex-Wellcare CEO Todd Farha participated in a scheme to defraud two entities, the Florida Agency for Health Care Administration and the public-private Florida Healthy Kids Corp., by having the managed health care provider keep $40 million in premiums it was legally obligated to...
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