All Smiles Dental Center -- a chain of 51 dental clinics in Texas that has been the target of investigations into its Medicaid billing practices -- has filed for bankruptcy, according to a story by WFAA-TV.
In 2008, the company collected $5.4 million from Medicaid orthodontics, and by 2011 All Smiles' Medicaid orthodontics billings had nearly doubled to $10.2 million, according to previous WFAA reports.
In March of this year, founder Richard Malouf, DDS, and the dental chain agreed to pay $1.2 million as part of a settlement agreement related to charges of Medicaid fraud.
Between 2004 and 2007, All Smiles submitted to Medicaid orthodontic-related claims for services that "were not furnished or rendered, were unbundled and/or not properly documented," according to the U.S. Attorney's Office for the Northern District of Texas. In settling the case, Dr. Malouf admitted no wrongdoing.
In Chapter 11 bankruptcy papers filed last week, All Smiles listed $50 million to $100 million in liabilities and $1 million to $10 million in assets, according to WFAA.