Pharmacy owner admits to fraud

WEST LAFAYETTE, Ind. (WLFI) - The former owner of a West Lafayette pharmacy admits to defrauding Medicaid out of more than 3.5 million dollars, but he will avoid jail time.

The old Family Pharmacare has been completely cleaned out with a for lease sign in the window.

Back in November, federal agents raided the pharmacy, taking away a number of boxes as evidence.

Shedron pleaded guilty to defrauding Medicaid out of more than 3.5 million dollars and income tax evasion to the tune of a half million dollars.

If convicted, the charges could have meant up to 15 years in prison.

Last week, a judge accepted the plea, whereby Shedron will avoid jail time.

Shedron's punishment is three- fold.

First., he will never be able open a pharmacy like this one that provided federal health benefits.

Second, he has to pay back 3.5 million in fraudulent billing.

As part of that, he had to sell more than a dozen pieces of jewelry and his extensive baseball card collection, worth more than $215,000 and includes cards like an $11,000 Mickey Mantle Card and other greats like Cy Young, Willie Mays and Jackie Robinson.

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Pharmacy owner admits to fraud