LAVACA, Ark. (AP) — A federal grand jury has indicted a western Arkansas man on health care fraud charges, alleging he made false billings of more than $100 million for drug and COVID-19 testing at laboratories he owns or manages.

Billy Joe Taylor, 42, of Lavaca was indicted Tuesday on the charges. According to federal prosecutors, Taylor submitted the false or fraudulent claims to Medicare between February 2017 and May 2021.

The indictment alleges that Taylor then used the money to buy luxury cars that included a Rolls Royce, jewelry, guitars and real estate.

He was charged with 16 counts of health care fraud and one count of engaging in a monetary transaction in criminally derived property. An arraignment is set for Nov. 23.

Each of the counts is punishable by up to 10 years in prison.

Taylor told Arkansas Business earlier this year that the allegations against him were “completely erroneous and false.”