- Associated Press - Wednesday, June 29, 2016

NEWARK, N.J. (AP) - The former New Jersey lab company at the center of a long-running bribes-for-test-referrals scheme has pleaded guilty.

Parsippany-based Biodiagnostic Laboratory Services is no longer operational. But it will forfeit its remaining assets to the government, including lab equipment, computers, furniture and office equipment.

The company pleaded guilty Tuesday to conspiracy to commit money laundering and conspiracy to violate the anti-kickback statute and the federal travel act.

Forty people - including 26 physicians - have pleaded guilty in the bribery scheme. Its organizers have admitted the scam involved millions of dollars in bribes and resulted in more than $100 million in payments to the company from Medicare and various private insurance companies.

The investigation has recovered more than $12 million so far through forfeiture.

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