TEXAS — The Justice Department has charged Jason Finkelstein, 53, in an $89 million healthcare fraud scheme involving medically unnecessary cardiovascular tests on college student-athletes. Finkelstein faces charges of healthcare fraud and conspiracy.

Prosecutors accuse Finkelstein of billing insurers for the tests and certifying results as normal without reviewing them. The alleged scheme, which prosecutors say involved Finkelstein and two unidentified co-conspirators, ran between 2019 and the end of 2025. Finkelstein, who owned and operated a Florida-based cardiovascular testing and treatment practice, pleaded not guilty during a court appearance in Florida on Monday.

According to the indictment, Finkelstein told an unnamed co-conspirator, "These kids could be high risk ... One of them drops dead on a field, they’re coming after both of us." The indictment states that a patient whose results were falsely certified as normal later died after heart problems went undetected.

The indictment states that in 2024, Finkelstein signed off on approximately 63 test result images of one patient after roughly 11 seconds. The test results for that patient revealed multiple cardiac abnormalities. Finkelstein's company relied on sonographers who lacked the requisite credentials to perform tests on college campuses, according to the indictment.

Prosecutors say Finkelstein submitted phony diagnoses of conditions such as elevated blood pressure and hypertension to insurers. Insurance companies require a prior finding of medical necessity to cover cardiovascular testing. Co-conspirators sent emails to athletic trainers at colleges and universities stating that the tests could identify life-threatening conditions and offered kickbacks and other inducements to school officials to refer potential patients.

Centers for Medicare & Medicaid Services Administrator Mehmet Oz, a trained cardiothoracic surgeon, released a statement about the case. Oz said, "Healthcare fraud doesn't just steal money, it can steal lives." He also stated, "The doctor's alleged conduct, which ignored a textbook diagnosis of preventable cardiac death, is heinous." The indictment says Finkelstein was licensed in the 48 contiguous states.