$11-million in assets seized in January pharmaceutical raid - WLBT.com - Jackson, MS

$11-million in assets seized in January pharmaceutical raid

Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
JACKSON, MS (WLBT) -

In January the IRS, FBI  and state agencies raided 9  pharmaceutical compound businesses in Mississippi. Our cameras were rolling as the multiple agencies raided the pharmacies simultaneously, from Ruleville to Jackson, Ridgeland  and Hattiesburg.
 
Sixteen properties owned by Wade A. Walters were seized. Walters is owner of the Walters group in Hattiesburg. Walters' web page identifies his  association with Advantage Pharmacy and Compounding.

During the January raid, Medworksx compounding and RXremedies along with Aspire health compounding pharmacies were raided in Jackson and Ridgeland.

Court Documents reveal there are several unnamed people in the investigation who own and operate numerous pharmacies that market and prepare compounded medications.
 
The U.S. government has claimed civil forfeiture of their properties. 

A court document filed by the IRS alleges many of the people involved  engaged in price rolling, money laundering, kickbacks and the creation of shell companies.   

 According to the document,  "Uncovered evidence suggests that the proceeds were used, directly or indirectly to purchase the defendant real properties."

Some of the real estate is a Point Clear condo in Ridgeland. Other properties are in Hinds County. 
 
No criminal charges have been filed. A spokesman for the FBI Jackson Office, Jason Pack, said Tuesday, this is an ongoing investigation and there would be no further comment.

Assets seized after nine different pharmacies statewide raided by federal agents.

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