On Wednesday, the Securities and Exchange Commission (SEC) charged a New Jersey-based healthcare company, Premier Healthcare Solution LLC (Premier), with
SEC Charges Healthcare Company And Its Founder With Multimillion Dollar Fraud Date
19/05/2021
The Securities and Exchange Commission today charged a New Jersey-based healthcare company and its founder with fraudulently raising nearly $4 million from over 130 investors nationwide through the sale of membership units in the company.
According to the SEC s complaint, since July 2017, Premier Healthcare Solution LLC and its founder, Josiah David (formerly known as Dennis Lee), an individual with felony convictions and an extensive history of regulatory violations, have been raising money from investors by selling them membership interests in Premier, a company that purported to offer employers a supplemental medical reimbursement plan. The SEC alleges that the plan consists of a tax exempt healthcare-related contribution from the employee to Premier, a loan from a lender to repay the employee’s contribution, and an insurance policy obtained by Premier payable at the employee
Source: Securities and Exchange Commission
The Securities and Exchange Commission today charged a New Jersey-based healthcare company and its founder with fraudulently raising nearly $4 million from over 130 investors nationwide through the sale of membership units in the company.
According to the SEC’s complaint, since July 2017, Premier Healthcare Solution LLC and its founder, Josiah David (formerly known as Dennis Lee), an individual with felony convictions and an extensive history of regulatory violations, have been raising money from investors by selling them membership interests in Premier, a company that purported to offer employers a supplemental medical reimbursement plan. The SEC alleges that the plan consists of a tax exempt healthcare-related contribution from the employee to Premier, a loan from a lender to repay the employee’s contribution, and an insurance policy obtained by Premier payable at the employee’s death to repay the loan. The SEC’s complaint all