Maxim Healthcare Services, one of the leading providers of health care in the United States, reached a settlement of $150 million to resolve criminal and civil allegations related to Medicaid fraud by the Federal Government, according to reports.

The U.S. Attorney's office in New Jersey was scheduled to announce the settlement at noon, reported the New Jersey Star Ledger quoting people familiar with the matter.

Maxim, who allegedly defrauded Medicaid and the Department of Veterans Affairs, was set to release a statement later Monday.

In addition, U.S. attorney Paul Fishman will announce today criminal charges against nine individuals, including high level employees of the company, Bloomberg reports.