- CHRIS RIEDEL
Blood Money is the story of how a Silicon Valley CEO became a fraud fighter. It is an insider’s look at the David vs. Goliath struggle between one man seeking to save his company and stop taxpayers from being ripped-off, and healthcare companies engaged in massive fraud. Affecting millions of taxpayers, it is one of the biggest “hidden” stories in the healthcare world — until now.
Imagine running a superb business operating with the highest integrity — until squeezed out by a pair of companies engaging in one of the greatest predatory pricing schemes in the medical world. What do you do? Such was Chris Riedel’s dilemma, which led him to become one of the top medical fraud fighters in U.S. history, which he chronicles in this riveting true-crime book, Blood Money.
Chris ran a highly regarded Northern California lab testing company, Hunter Labs, until falling to the nefarious scheme of the “Blood Brothers”, Quest and LabCorp, the world’s top medical test labs. Their scheme, which involved loss-leader pricing to doctors to gain their business, and then overcharging Medicare, Medicaid and Medi-Cal as much as 20 to 40-fold, has cost taxpayers billions of dollars during the past 15 years — and forced higher quality, but smaller labs like Hunter, either to fold or be absorbed by them.
In Blood Money, Riedel exposes the underworld of medical fraud in unsparing terms. He begins with the Blood Brothers’ fraud against taxpayers, which pushed Chris and his attorney partners, Niall McCarthy (son of former Calif. Lieutenant Governor Leo McCarthy) and Justin Berger into action. Chris and his attorneys blew the whistle, and won a landmark $241 million settlement for the State of California taxpayers in a highly publicized 2011 case.