San Fernando Valley man admits to laundering millions of dollars obtained in a Medicare fraud scheme

LOS ANGELES — A San Fernando Valley man pleaded guilty Monday to laundering more than $4.6 million in connection with a years-long scheme to defraud Medicare of nearly $16 million through sham hospice companies.

Mihran Panosyan, 46, of Winnetka worked with others to launder the proceeds of a massive Medicare fraud scheme, transferring the fraudulently obtained funds between multiple accounts before spending them, according to the U.S. Department of Justice.

Panosyan pleaded guilty...