- Associated Press - Thursday, September 3, 2015

PHOENIX (AP) - A prosecutor says an executive who oversaw procurement for the Arizona Medicaid program may have skimmed more than $10 million through an elaborate scheme over the past nine years.

A judge on Thursday ordered 63-year-old Michael Veit held on a $1 million cash bond and appointed the public defender to represent him and his alleged accomplice, 67-year-old Michael Cameron.

Assistant Attorney General Mary McGary told the judge at a hearing for Veit and Cameron that investigators found $2.7 million in assets during searches of Veit’s properties Wednesday. They also found $200,000 in cash at his son’s home.

McGary said Cameron had withdrawn $42,000 in cash in the past week.

Court documents allege Veit created fake invoices from a legitimate supplier and put the payments into an account Cameron controlled.

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