Medical Mutual of Ohio Manager Faces Embezzlement Charges
Federal charges of embezzlement have officially been filed against Joseph F. Satava of Sheffield Lake, a manager of Medical Mutual of Ohio. He is accused of stealing $2.9 million through an embezzlement scheme that ran between August 1997 and November 2013.
At this point, Satava appears to be cooperating with investigation and will eventually plead guilty to the embezzlement charges. Among other penalties that he faces, Satava will likely be required to forfeit the stolen $2.9 million.
Satava has worked for the organization for more than 40 years, and has been manager of credit and collections for 20 of those years. As manager, part of his job was to request and approve checks that could come in amounts of $5,000 or more.
According to information gained in the investigation, Satava figured out a way to develop reimbursement checks he would then convert for his own use. The company had regular printouts of accounts receivable balance statements, and Satava would review them to pinpoint new contracted companies with Medical Mutual. He created reimbursement checks in the exact amount that these companies would pay for coverage, logged the reimbursement as going to a payee within the client firm and then would charge them to an account that managed billions of dollars a year to go unnoticed.
After forging the payee’s name on the check, he would sign his name under the forged name and deposit the money into his account via ATMs. According to police, Satava produced a minimum of 1,382 forged reimbursement checks throughout the length of the scheme.
The nature of these types of embezzlement cases is extremely complex. If you’ve been accused of embezzlement, speak with a Cleveland white collar criminal defense attorney at the Law Office of Gregory S. Robey.