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Medicaid Fraud Costs Taxpayers $160 Billion/Year

Tuesday, 17 Jul 2012 | 1:11 PM ET

Federal prosecutors are uncovering what they say is another blatant rip-off of the Medicaid system, and U.S. Attorney Preet Bharara says 48 people are charged in a nationwide operation centered here in New York, reports CNBC's Scott Cohn.