A federal grand jury in New York indicted the former chief financial officer of Empire Blue Cross and Blue Shield last week on charges of perjury and obstruction of a Senate investigation.
The four-count indictment against Jerry Weissman, 43, alleges he lied to the Senate Permanent Subcommittee on Investigations in describing discrepancies between the New York-based insurer's internal financial reports and documents filed with the state.
Mr. Weissman's attorney disputes the charges.
The indictment is the first federal action against a former Empire employee in connection with the subcommittee's examination of the insurer's management and operations.
If convicted, Mr. Weissman could serve up to five years in prison and pay as much as $1 million in fines.