Docket Number 14-cr-00574
Brief description of the case:
Defendant Devos, Ltd. (a/k/a Guaranteed Returns) managed pharmaceutical product returns for both private and public healthcare provider clients. Pharmaceutical manufacturers frequently allow health care providers to return expired drugs for a refund. The indictment charges that Guaranteed Returns promised clients that it would hold their “indate” (not yet expired) drug products until expiration, and then return them on clients’ behalf, in exchange for a fee. According to the indictment, Guaranteed Returns instead stole a significant portion of its clients’ “indate” drug products; returned the drugs to the manufacturers; and kept the resulting refund money for itself and its CEO Dean Volkes. Through fraud, Guaranteed Returns allegedly stole more than $180 million. This fraudulent activity occurred from approximately 1999 to on or about October 28, 2014.