A Silicon Valley executive, who claimed to have invented technology that could test for allergies and COVID with a few drops of blood, has been sentenced to prison for fraud.
A Silicon Valley executive who lied to investors about inventing technology that tested for allergies and COVID-19 using only a few drops of blood was sentenced Wednesday to eight years in prison and ordered to pay $24 million in restitution, federal prosecutors said. Mark Schena, 60, was convicted last year of paying bribes to doctors and defrauding the government after his company billed Medicare $77 million for fraudulent COVID-19 and allergy tests, the U.S.
In meetings with investors, Schena claimed he was on the shortlist for the Nobel Prize and falsely represented that Arrayit could be valued at $4.5 billion, prosecutors said. Before the COVID-19 pandemic, from 2018 through February 2020, Schena and other employees paid bribes to recruiters and doctors to run an allergy screening test for 120 allergens ranging from stinging insects to food allergens on every patient whether they were needed or not, authorities said.
The case against Schena shared similarities with a more prominent legal saga surrounding former Silicon Valley star Elizabeth Holmes, who dropped out of Stanford University in 2003 to found a company called Theranos that she pledged would revolutionize health care with a technology that could scan for hundreds of diseases and other issues with just a few drops of blood, too.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Judge sentences Silicon Valley CEO to 8 years in COVID-19, allergy test fraud caseMark Schena, 60, was convicted last year of paying bribes to doctors and defrauding the government after his company billed Medicare $77 million for fraudulent COVID-19 and allergy tests, the U.S. Department of Justice said.
Weiterlesen »
Silicon Valley exec Mark Schena gets 8 years in prison for COVID-19, allergy testing fraudA president of a Silicon Valley firm has been sentenced to federal prison after being convicted in a multi-million dollar scheme that involved fraudulent COVID-19 and allergy tests.
Weiterlesen »
In big year for labor, California Gov. Gavin Newsom delivers both wins and surprisesCalifornia Gov. Gavin Newsom often touts California's leadership on the national stage
Weiterlesen »
In big year for labor, California Gov. Gavin Newsom delivers both wins and surprisesCalifornia Gov. Gavin Newsom often touts California's leadership on the national stage.
Weiterlesen »
In big year for labor, California Gov. Gavin Newsom delivers both wins and surprisesCalifornia Gov. Gavin Newsom often touts California's leadership on the national stage.
Weiterlesen »
Silicon Valley CEO convicted in COVID-19 and allergy test fraud case sentenced to 8 years in prisonMark Schena, 60, was convicted last year of paying bribes to doctors and defrauding the government after his company billed Medicare $77 million for fraudulent COVID-19 and allergy tests.
Weiterlesen »