Covington Man Pleads Guilty for His Role in Operation of Covington Business Running Medical Reimbursement Account Program

This document is about a Covington, Louisiana man pleading guilty for his role in operating a business that created and marketed a fraudulent medical reimbursement account program called "Classic 105." The program claimed to be a multiple employer welfare arrangement that allowed employees to reduce their taxable income, but in reality the only money paid to the business was in the form of fees, and there were no actual contributions, loans, or insurance policies as represented.