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Medical Device Ex-CEO Convicted of Fraud to Buy Home, Maserati

Jan. 30, 2020, 8:35 PM

A jury convicted the former CEO of Sanovas Inc. of wire fraud and money laundering for siphoning millions of dollars from the Northern California medical device company to buy a $2.6 million home and a Maserati, among other luxuries, federal prosecutors said.

Lawrence J. Gerrans was found guilty Wednesday following a two-week trial, according to officials from the U.S. Attorney’s Office for the Northern District of California. He was accused of stealing more than $2.6 million in 2015 and laundering at least $2.3 million of that through Hartford Legend Capital Enterprises, a shell company that he controlled.

Additionally, Gerrans allegedly...

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