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UCI Medical Affiliates, Inc.'s Internal Investigation Leads to SEC Action and Criminal Charges Against Former Executive Officer
Date:7/8/2009

rbanes-Oxley certifications, thereby misrepresenting that they were free of any untrue statements of material fact. In connection with the audit of the Company's annual financial statements, Mr. Wells also signed multiple management representation letters to the Company's auditors, thereby misrepresenting that the Company's financial statements were prepared in conformity with GAAP.

The misconduct of Mr. Wells upon which the Complaint and the pending criminal charges are based was identified during the Company's internal investigation conducted by the Company's Audit Committee of the Board of Directors. The internal investigation commenced on December 10, 2008, after the Company's former independent registered accounting firm reported certain suspicious transactions to the Audit Committee on that date. On December 17, 2008, the Board of Directors of the Company terminated the employment of Mr. Wells.

The Company reported the results of its investigation regarding the misconduct of Mr. Wells to the Office of the United States Attorney and to the SEC on February 23, 2009. During and since its internal investigation, the Company has fully cooperated, and continues to cooperate fully, with the U.S. Attorney's Office, the Commission, and the Federal Bureau of Investigation in their respective investigations of the misconduct of Mr. Wells.

On February 27, 2009, Mr. Wells executed a Confession of Judgment and admitted that he owes $2,967,382 to UCI Medical Affiliates of South Carolina, Inc., a wholly-owed subsidiary of the Company, for transfers made to him or on his behalf and for expenses paid to him or on his behalf.

Joseph A. Boyle, Executive Vice President and Chief Financial Officer, stated, "It is truly tragic when someone of Mr. Wells' position, experience and training becomes involved in a fraud of this nature. UCI Medical Affiliates, Inc. and our Audit Committee have gone to great lengt
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SOURCE UCI Medical Affiliates, Inc.
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