To keep the cycle going, Todt charged for procedures that were never performed and then funneled payments from Medicaid, Medicare and private health insurance into his bank accounts, agents said. That way, he was able to cover the automated withdrawals to the short-term lenders.
"No, it's me," Todt told investigators.
When he was asked why he did it, Todt said it was “easier” that trying to borrow money.
He said he defrauded the government to “keep pace” with personal loans.
“When asked if he was living above his means, Todt replied, ‘That's the best way to put it,’ ” according to the federal records.
Even though he agreed to plead guilty and meet with an attorney to work out the details of his federal prosecution, Todt didn’t follow up with the agents after the December 4, 2019 conversation.
Investigators met with his employees, who said Todt didn’t return from Florida in December to treat patients in Connecticut as planned. He kept in touch with one employee through sporadic text messages that month. But workers said some of their paychecks bounced. Then, they said, they stopped getting checks. So they stopped showing up for work and both locations closed.
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