Lying on Financial Disclosure Statements Can Land You in Jail

A Florida businessman who was already serving 57 months in prison on charges of tax and bank fraud, now faces another five years behind bars for making false statements on a financial disclosure statement that he was required to submit to the government.

According to a news release from the U.S. Department of Justice, Casey Padula of Port Charlotte, Fla., submitted a false financial disclosure statement in which he failed to disclose numerous assets, including a boat valued at almost $340,000, at least $80,000 in cash, and a $90,000 Mercedes, that he had recently purchased for his daughter.

As part of his original plea agreement, Padula was required to provide a full and accurate account of his finances.

Lying or making a false statement is a federal crime and, as in the case of Padula, can result in additional penalties and prison time. In addition to possibly having five more years tacked on to his sentence, Padula also faces monetary penalties.

Healthcare professionals need to be aware that making false statements to the government is a crime, which may result in criminal and civil penalties. 18 U.S.C. §1001 imposes liability on any person who, in a communication submitted to the government, knowingly and willfully, makes false or fraudulent statements or representations, submits false writings or documents, or that falsifies or covers up a material fact.

The penalty for a conviction for making a false statement may result in imprisonment of not more than 5 years, or a fine, or both.

The Health Law Offices of Anthony C. Vitale handles often works to resolve cases for our clients through plea or settlement agreements with the government.

Our firm has worked on cases where financial disclosure forms, such as the one that Padula submitted, are used in negotiating settlements. Disclosing this financial information in an accurate manner, as well as providing any supporting documentation, fosters good faith between the parties and is a necessary part of settlement negotiations.

For more information, give us a call at 305-358-4500, or send an email to info@vitalehealthlaw.com and let’s discuss how we might be able to assist you.

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It is not intended as professional advice and should not be construed as such.