Inverness man accused of running COVID-19 testing fraud scheme

An Inverness man was indicted by a federal grand jury on charges related to what officials called a COVID-19 testing fraud scheme.

Zishan Alvi, 44, who co-owns and operates a laboratory in Chicago, faces 10 counts of wire fraud and one count of theft of government funds.

According to prosecutors, Alvi's company obtained more than $83 million from a federal program that paid for tests. Officials said that from February 2021 to February 2022, the lab delivered inaccurate and unreliable test results to the public by cutting corners or in some cases not testing submitted material at all.

"The charges in this case allege that the defendant disregarded public health concerns in favor of personal financial gain," said Morris Pasqual, acting U.S. attorney for the Northern District of Illinois.

"Doing so by compromising taxpayer-funded programs intended to fight the spread of coronavirus was particularly reprehensible."

Officials said Alvi transferred some of the fraudulently obtained government funds from the company's accounts and bought luxury goods and invested in stocks and cryptocurrency. Officials want Alvi to forfeit at least $6.8 million, as well as five luxury vehicles

If he is convicted, Alvi faces up to 20 years in federal prison on each count of wire fraud and up to 10 years on the theft of government funds charge, a news release said.