Silicon Valley CEO gets 8 years in prison after COVID-19, allergy test fraud conviction
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.
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