ST. PAUL, Minn. (FOX 9) - Two Minnesota-based business executives pleaded guilty to federal charges of orchestrating a multimillion-dollar scheme.
Khemwattie Singh and Neeraj Chepuri, who both served as executives for healthcare company Global Medical Services, admitted to their roles in the scheme in late December, pleading guilty to wire fraud charges. Both are scheduled to be sentenced in the case in early May.
The U.S. Attorney's Office in Minnesota says the executives sold Global Medical Services' accounts receivable to a Florida-based company for $2.6 million. However, Singh and Chepuri never paid out the money owed to the Florida company, instead pocketing the cash and wiring more than $5 million overseas.
Singh was also accused of failing to pay out withheld employee taxes to the IRS. He pleaded guilty to an additional count of willful failure to account for and pay over payroll taxes.