Adam B. Resnick

Adam B. Resnick (born March 10, 1972) is an American health care entrepreneur, public speaker, author, and professional whistleblower. His 2007 book Bust: How I Gambled and Lost a Fortune, Brought Down a Bank-and Lived to Pay for It is an autobiography describing his early addiction to gambling and how he, in a bank fraud conspiracy, contributed to the 2002 failure of Universal Federal Savings Bank in Chicago, Illinois. Resnick was convicted for his role in the fraud and served 19 months in federal prison. His life story has been discussed as the subject for a motion picture, documentary or television mini series.

Resnick has since played a significant part in exposing Medicare and Medicaid fraud in the institutional pharmaceutical business.

Resnick has been involved in suing Omnicare, a supplier of drugs to nursing homes, under federal whistleblower law, as well as the parties to the company’s alleged kickback schemes. Resnick filed suit to punish Omnicare for Medicare and Medicaid fraud. Omnicare allegedly paid kickbacks to nursing home operators in order to secure additional business.

"If nursing homes take kickbacks, decisions they make about drugs for their residents ultimately may be based on financial benefits to the nursing homes rather than medical benefits for their patients," Resnick said after a settlement was reached in 2010 with two nursing chains he sued.

In 2006, Resnick filed a lawsuit under the False Claims Act against Omnicare and two nursing homes owned by Leonard Grunstein and Rubin Schron. The U.S. Department of Justice joined the lawsuit in December 2008, and Omnicare settled by paying $19.8 million to the federal government in November 2010. Omnicare denied any wrongdoing. Subsequently, the two nursing homes also charged in the lawsuit, Mariner Health Care Inc. and SavaSeniorCare Administrative Services L.L.C., paid $14 million in February 2010 to settle their part in the alleged fraud. The two nursing home chains allegedly solicited kickbacks from Omnicare in exchange for 15-year contracts to utilize Omnicare's pharmacy services.

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