California tech CEO charged in coronavirus test fraud case
June 9, 2020 5:06PM AKDT
By OLGA R. RODRIGUEZ undefined
SAN FRANCISCO (AP) — Federal prosecutors have charged the CEO of a Silicon Valley medical technology company with misleading investors by falsely claiming the company had developed an approved blood test for the coronavirus. The U.S. Attorney’s Office says Mark Schena, CEO of Sunnyvale-based Arrayit Corporation, was charged Tuesday with one count of securities fraud. Prosecutors say that in March, as the coronavirus pandemic escalated, Schena began making false claims on social media and emails about his company’s ability to provide accurate and fast coronavirus tests. Schena did not immediately return a message seeking comment.