DALLAS (CBSDFW.COM) – A Federal Grand Jury indicted owners of Hyperbaric Oxygen Therapy Companies late Wednesday.

Stanley Thaw, and his wife Kernell of Frisco, along with Michael Kincaid of Plano, have been charged with conspiracy, health care fraud, making false statements to a financial institution and engaging in illegal monetary transactions with fraud proceeds.

The Announcement came down from U.S. Attorney Sarah R. Saldana of the Northern District of Texas.

The Owners of the HBOT entities are expected to make their initial appearances this afternoon in federal court in Dallas, before U.S. Magistrate Judge Paul D. Stickney.

In the indictment, it’s alleged that Stanly Thaw and Kincaid engaged in a plot to defraud Medicare by double billing them for physician supervision and all HBOT services.

The indictment also alleges that the Thaw’s provided false information in order to obtain a $1.3 million loan, which was used to purchase properties in Frisco and Dallas from a local home builder.

Stanley Thaw and Kincaid are each charged with one count of conspiracy to commit healthcare fraud and five substantive counts of health care fraud. If convicted, the conspiracy count and each of the health care fraud counts carries a max sentence of 10 years in prison and a $250,000 fine.

Stanley and Kernell Thaw are charged with three counts of making false statements to a financial institution.  Each of the false statements counts carries a max sentence of 30 years and a $1 million dollar fine.

All three defendants are charged with one count of money laundering, and if convicted, can spend up to 10 years in prison and a pay $250,000 fine.

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