Medical Mutual to Pay $75,000 Fine
Medical malpractice insurer Medical Mutual Insurance Co. has agreed to pay a $75,000 fine in settlement to the allegations that the company violated state law by investing in real estate partnerships for the sole purpose of compensating its top executives. This is what NewsObserver.Com reports through a health law article.
Four executives of Medical Mutual allegedly invested in nine real estate partnerships, with investments of up to $2.6 million.
Aside from monetary fine, the real estate partnerships will be transferred to the company.
However, despite paying the penalty, the accused individuals denied any wrongdoing.
For the link to the article, click here.