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Friday, January 23, 2009

SARASOTA'S ART NADEL, HOWARD P. STURMAN, MURIEL STURMAN, FLORIDA NURSING CORP, DURNONT NURSING HOME AND MEDICAID FRAUD IN THE 1970's

When the Sturman and Singer families took control of the Cooper Companies in 1988, each was already acquainted with scandal. Muriel Sturman, the mother of the Cooper investors, was charged in 1975 with 43 counts of Medicaid fraud.

Muriel Sturman later pleaded guilty to a single count of making false government filings, she was charged with overbilling Medicaid $241,000 from 1970 to 1973 at the DUMONT Nursing home, see NYT link click here.

CLICK NYT IMAGE TO ENLARGE...NEW YORK TIMES, JUNE 17th 1975. A special grand jury in Westchester County accused Muriel Sturman, operator of the Dumont Nursing Home in New Rochelle with Medicaid Fraud, she had been charged on 43 counts of filing false documents and grand larceny, she had faced 7 years in prison. The indictment said that Muriel Sturman paid a salary to her son Howard P. Sturman of $37,725 although Howard did not work for the Dumont Nursing Home, he was working with Art Nadel at the Florida Nursing Corp.

Art Nadel and Howard P. Sturman (Muriel's son) were co-directors of FLORIDA NURSING CORP in the same time frame as Mom Muriel Sturman's Medicaid Fraud charges. The FLORIDA NURSING CORP. shut down just after Muriel Sturman guility plea for Medicaid fraud in New York State, Florida Nursing Corp had been in business for 16 years ! Muriel Sturman was a very wealthy woman and had operated other nursing homes in New York and Conn.

Art Nadel and Howard P. Sturman were directors of a Florida Corporation, Florida Profit Corporation...FLORIDA NURSING CORP.

Event Date Filed: 09/25/1961 to 12/01/1977
Florida Nursing Corp. Officer/Director Detail Name & Address
Title PD NADEL, ARTHUR G. 200 N. COLUMBUS AVE. MT. VERNON NY
Title VD STONE, RAY 200 N. COLUMBUS AVE. MT. VERNON NY

Art Nadel knew Howard P. Sturman before he borrowed $50,000 from NYC Mob loan sharks in 1978 or 1979 and before Howard P. Sturman became involved in the Copper Co S.E.C. debacle in 1989.

According to records obtained by the St. Petersburg Times, Attorney Art Nadel in 1978 represented CCN Realty Corp. and its president, Richard Sanchez in New York with a real estate deal with a Hospital, Nadel put the hospital's $50,000 deposit into an escrow account. The deal fell through, and in May, 1980, the hospital asked for its money back. Nadel & Sanchez were Co-Directors of a Florida Corp., "Mira Mar Court Inc" .

But Nadel was unable to return the $50,000 because all but $152 had been spent "in connection with loan-shark transactions and related events and circumstances with his client (Sanchez)," New York Supreme Court records show. "(Nadel) further stated that he shared in the problems and concerns of Sanchez."

Nadel and Sanchez were Co-Directors in a Florida Corp MIRA MAR COURT INC.
Florida Profit Corporation
MIRA MAR COURT, INC.
Event Date Filed: 10/19/1978 to 11/01/1985
Officer/Director Detail Name & Address
Title PD.. PEZZO, FRANK 41 LOCKWOOD AVE. NEW ROCHELLE, NY
Title ASD..
NADEL, ARTHUR G. 41 LOCKWOOD AVEN. EW ROCHELLE, NY
Title SD..
SANCHEZ, RICHARD J. 41 LOCKWOOD AVE. NEW ROCHELLE, NY

For "professional misconduct of such a serious nature," Art Nadel was disbarred on March 11, 1982.

The association of Art Nadel and Howard P. Sturman is somewhat curious as Howard P. Sturman, was Cooper's co-chairman and co-chief executive officer in 1988 along with Gary Singer who were elected co-chairmen and co-chief executives of the $900 million-a-year Cooper eye-care concern.

In December 13, 1994...The Securities and Exchange Commission (S.E.C.) said that the Cooper Companies had agreed to pay $2.77 million to settle charges of fraud related to junk bond trades by the company's senior executives in 1991.

The settlement with Cooper, of Fort Lee, N.J., is part of a larger criminal and civil case against the company and its former co-chairman and chief executive, Gary Singer.

In January, Cooper and Mr. Singer were convicted of Federal criminal fraud charges arising from a scheme in which Mr. Singer traded on inside tips obtained by bribing a mutual fund bond analyst.

In July, the company was sentenced to pay a criminal fine of $1.8 million; Mr. Singer was still awaiting sentencing at the time the NYT article appeared.;

Gary Singer did time in a Federal prison for the Junk Bonds scam, he got out in 1997 and he was part of the Cooper Company with Howard P. Sturman.

Howard P. Sturman, Bruce Sturman, Wayne Sturman and the accountant, Jerry Schwartz, were all convicted of bankruptcy fraud in 1996 (case: US District Court Southern District of New York, US v. Schwartz, Howard Sturman, Bruce Sturman, Wayne Sturman, 96-CR 318; CR 96-657 (ADS).

Instead of using the proceeds for proper business purposes, the brothers used the vast majority of these borrowings and diverted them into investments in which the brothers alone had an interest,for their personal gain, including, but not limited to, the purchase of stock of Cooper Companies (1988).

The Sturman brothers have since been convicted and sentenced in Federal Court on bank fraud charges, Howard P. Sturman and Art Nadel were co-directors of a Florida Nursing home for 16 years that shut down right after the Medicaid fraud charges of Muriel Sturman, all 3 of the Sturman brothers did time in a Federal prison, see below.

From the Bureau of Federal Prisons, Howard P. Sturman did time, he got out in 2001, he was back and listed at the 200 Columbus Ave address in 2005, his "old partner" Art Nadel was listed there in 2004.


Bill Warner
private investigator
WBI Inc Private Detective Agency
Sarasota Fl