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 has sentenced to eight years in prison and ordered to pay $24 million in restitution
ByThe Associated Press
October 18, 2023, 7: 51 PM
SAN JOSE, Calif. — 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. Department of Justice said in a statement.
Schena claimed his Sunnyvale, California-based company, Arrayit Corporation, had the only laboratory in the world