www.Justice.gov, Press Release, Sept 29, 2022

New York Litigation Funding Company Operator Who Financed Fraudulent Lawsuits In Furtherance of the Scheme Previously Pled Guilty

Damian Williams, the United States Attorney for the Southern District of New York, announced that SADY RIBEIRO, a New York-licensed pain management doctor and surgeon, pled guilty today to one count of conspiracy to commit mail fraud and one count of conspiracy to commit wire fraud in connection with a scheme to obtain fraudulent insurance reimbursements and other compensation from fraudulent trip-and-fall accidents.  RIBEIRO is the second defendant to plead guilty in the case.  ADRIAN ALEXANDER, the owner of a litigation funding company who was also involved in the trip-and-fall fraud scheme, previously pled guilty to one count of conspiracy to commit wire fraud on August 30, 2022.  ALEXANDER and RIBEIRO both pled guilty before U.S. District Judge Sidney H. Stein.

U.S. Attorney Damian Williams said: “As alleged, Sady Ribeiro abused his professional license and position of trust by performing medically unnecessary surgeries to increase the value of fraudulent trip-and-fall lawsuits.  In carrying out the scheme, Adrian Alexander, who funded many of the fraudulent lawsuits, Sady Ribeiro, and their co-conspirators preyed upon the most vulnerable members of society in order to enrich themselves.  Ribeiro and Alexander now await sentencing for their reprehensible crimes.”

According to the Indictment, the Superseding Informations filed against RIBEIRO and ALEXANDER, other documents filed in this case, and statements made in court:

SADY RIBEIRO and ADRIAN ALEXANDER, among others, were involved in an extensive fraud scheme through which fraud scheme participants defrauded businesses and insurance companies by staging trip-and-fall accidents and filing fraudulent lawsuits arising from those staged trip-and-fall accidents. Continue Press Release