FBI Raids Houston Health Savings Company Accused of Defrauding 40,000 Customers

FBI Raid on Health Matching Account Services

• FBI agents executed a raid on the offices of Health Matching Account Services (HMA) in Houston, seizing files, computers, and evidence.
• The company is accused of defrauding thousands of customers nationwide with its "ultimate medical savings product."

Allegations of Fraudulent Practices

• HMA promised to match and double customer contributions for out-of-pocket medical bills not covered by insurance.
• Customers, like Alvaro Ledesma who invested nearly $5,000, reported difficulty getting claims paid and felt "held hostage" by the fine print.
• Attorneys claim the company's promises were entirely fraudulent and a false promise.

Scope of the Alleged Scheme

• Approximately 40,000 customers may have been affected by the alleged scheme.
• An estimated $200 million may have been put into HMA, with very little paid out in claims.

Customer and Insider Cooperation

• Reporting by KHU1 prompted company insiders to come forward, with one former employee providing investigators with access to the facility.
• Customers like a retiree expressed new hope of recovering their lost funds following the FBI raid.

Company Response and Current Status

• HMA and its attorneys previously denied allegations in a civil lawsuit and stated they would vigorously defend themselves.
• HMA employees were reportedly told to go home, indicating the company has ceased operations following the federal investigation.