A psychiatrist recommended nine patients be cared for by agencies he had a stake in, a tribunal found.
Dr Mohammad Makhdum, who worked in Essex and Suffolk, admitted sending patients to two firms in which he had financial interests as part of a scheme he devised for community care.
It happened between 2010 and 2011, according to the Medical Practitioners Tribunal report. He has voluntarily surrendered his medical licence.
Dr Makhdum worked for the Suffolk NHS Mental Health Partnership Trust, Norfolk and Suffolk Foundation Trust (NSFT) and South East Essex Primary Care Trust at the time when he sent mental health patients to Focus Care Agency and Vital Healthcare Services.
He contributed to the purchase of several properties for the agencies in Ipswich and owned a 50% stake in Blackstone Healthcare, which held a majority stake in both Vital and Focus, at the time of the referrals, according to the report.
Dr Makhdum failed to declare these interests to his employers, the tribunal found.
After the discovery of his interests he was dismissed by the NSFT in 2012. He made an application to voluntarily give up his licence to practice medicine which was accepted by the tribunal on 16 November.
