Cemhan Biricik Wanted Accounts, Assets Seized By Feds Returned. Magistrate Says No. Notes Biricik Is Pushing New Business.
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2026 MetroDesk Media, LLC) — A federal magistrate judge has denied a Boca Raton man’s attempt to reclaim seized assets while he faces sweeping healthcare fraud charges — and she was not impressed with his paperwork. U.S. Magistrate Judge Kimberly G. Altman issued the ruling April 20, finding that Cemhan Biricik failed to meet either legal threshold required to challenge the government’s pretrial seizure of his bank accounts, investment accounts, vehicles, and other property. Biricik and co-defendant Martin Perlin, M.D., were indicted in July 2025 on one count of conspiracy to commit healthcare fraud and fifty-eight counts of healthcare fraud.
The indictment centers on Biricik’s ownership of Fast Labs, a COVID-19 laboratory testing operation that federal prosecutors say submitted hundreds of millions of dollars in fraudulent claims — resulting in more than $50 million in payments from Medicare, Medicaid, TRICARE, and other federal benefit programs. Within days of the indictment, the government executed seizure warrants targeting a Cirrus SR22T aircraft, multiple vehicles, and numerous bank accounts. Biricik filed two motions asking the court to modify those seizures and, alternatively, to hold a special hearing to challenge whether probable cause existed to freeze his assets.
Judge Altman rejected both arguments. On the question of financial hardship, she found Biricik’s sworn affidavit — in which he claimed to have “no assets of any sort” — too vague and conclusory to take seriously. The judge noted that Biricik still lives in a $4.7 million Boca Raton mansion that the government says is paid off, that his mother has been covering his legal fees and living expenses, and that Biricik recently asked the district court to remove his ankle bracelet so he could pursue photography work and meet with investors for a new AI-focused company he is starting called ZSky.
As for the second prong — whether the seized accounts were actually connected to the fraud — Altman said Biricik failed to identify any specific untainted funds or explain where the money in those accounts actually came from.
