Ex-Centene execs accused of Medicaid fraud scheme

Former executives of St. Louis-based Centene Corp. (NYSE: CNC) are being accused in a lawsuit of orchestrating a Medicaid fraud scheme.

Among the former executives accused are its previous president and chief financial officer.

The Bricklayers Pension Fund of Western Pennsylvania, which filed the suit, alleges at least 22 state Medicaid programs were defrauded. The pension fund, which has owned Centene stock since November 2017, also accuses eight of the company's current 13 directors of breaching fiduciary duties by failing to oversee pharmacy benefit management practices.

The company last year set aside $1.1 billion to settle allegations with states.

Read more from the St. Louis Business Journal.