Mess at Jeff Thompson’s Medicaid Company in “Seven Figure” Range
As if Jeff Thompson doesn't have enough problems. The man at center of the federal investigation into Mayor Vince Gray's campaign is about to soon lose control of his Medicaid contracting company, Chartered Health Plan, after an internal audit found financial irregularities.
Details of those irregularities have been scarce. According to city officials, they fall into two broad categories: unsourced receipts and an unreported transfer out of the company. In both cases, the problems are in the "seven figure" range, city officials say. Chartered is expected to refile paperwork with the Department of Insurance, Securities and Banking soon detailing where the money came from and where it went.
Several city officials say the company, which insures about 110,000 District residents, is almost certainly headed to receivership, with the city taking control from Thompson, the current sole owner. City officials say action could be taken as early as tomorrow. An attorney for Thompson did not respond immediately to a request for comment.
Screengrab courtesy Charles Parsons