Former Executives and Employees of Health Technology Company Outcome Health Charged in $1 Billion

[TexasTowelie]

Former Executives and Employees of Health Technology Company Outcome Health Charged in $1 Billion Fraud Scheme


WASHINGTON – Four former executives and two former employees of Outcome Health (Outcome), a Chicago-based health technology start-up company founded in 2006, were charged for their alleged roles in a fraud scheme that targeted the company’s clients, lenders and investors, and involved approximately $1 billion in fraudulently obtained funds.

Charged in a superseding indictment filed in the Northern District of Illinois and unsealed today are:

RISHI SHAH, 33, of Chicago, the co-founder and CEO of Outcome Health, which was known as ContextMedia prior to January 2017.
SHRADHA AGARWAL, 34, of Chicago, the president of Outcome Health, who was branded as a co-founder.
BRAD PURDY, 30, of San Francisco, Calif., the chief operating officer and chief financial officer.
ASHIK DESAI, 26, of Philadelphia, Penn., the executive vice president of business operations and, more recently, the chief growth officer of Outcome.

Previously charged in a criminal information filed in the same district are:

KATHRYN CHOI, 29, of New York, N.Y., a senior analyst.
OLIVER HAN, 29, of Chicago, an analyst.

An initial appearance and arraignment for Shah, Agarwal and Purdy in federal court in Chicago have not yet been scheduled. An initial appearance and arraignment for Desai are set for Dec. 3, 2019, at 10:00 a.m., before U.S. District Judge Thomas M. Durkin. An initial appearance and arraignment for Choi and Han are set for Dec. 5, 2019, at 1:30 p.m., before U.S. Magistrate Judge Jeffrey Gilbert.

Read more: https://www.justice.gov/usao-ndil/pr/former-executives-and-employees-health-technology-company-outcome-health-charged-1