Medical Associates exec charged in fraud ring involving board members
Managing director of the Medical Associates Hospital in St Andrew, Dr Michael Banbury, has been charged with fraud in an investigation reportedly involving several others.
Inspector at the Fraud Squad, Carey Laws, told The Gleaner/Power 106 News Centre that the medical practitioner was yesterday charged with two counts of conspiracy to defraud after reporting to detectives.
He was offered bail in the sum of $500,000.
The police say the doctor, who also operates a private practice at the hospital, and several others are being investigated for their role in a ring to defraud the institution through an alleged share transfer deal.
The police could not say when more arrests would be made or how many board members are being investigated.
The investigation reportedly started in August last year.