Former Partners Detail $54 Million Sarian Siphoning Claim, Citing $109,751 'Baptism' Transfer
Updated
Updated · The Assembly · Jun 18
Former Partners Detail $54 Million Sarian Siphoning Claim, Citing $109,751 'Baptism' Transfer
1 articles · Updated · The Assembly · Jun 18
Summary
New Nevada and Florida court filings accuse hospital owner Mike Sarian of siphoning nearly $54 million from company accounts, this time adding line-item examples including a $109,751 hotel wire marked “baptism,” luxury car payments and transfers to a family trust.
The filings aim to substantiate earlier fraud claims with bank records, emails and testimony from former executives who say Sarian ordered unpaid invoices, intercompany transfers and withdrawals from Randolph Health despite mounting financial strain.
Former Randolph Health CEO Tim Ford said Sarian pushed transfers that could violate a KeyBank loan agreement; the lender sent the hospital a $50 million default notice in April, and Ford said overdue bills regularly topped $13 million.
Sarian, ousted as CEO from the three companies by former partners but still a majority owner, called the allegations lies and said disputed withdrawals repaid more than $5 million in personal loans he made to keep hospitals operating.
The dispute deepens scrutiny of Randolph Health, which Sarian bought in 2021 with a $12 million county-backed loan and which local officials say still owes Randolph County $11.3 million.