Medical Technology President Charged With Covid-19 Testing Fraud

The president of a California medical technology company was charged in connection with alleged schemes to mislead investors, manipulate stock prices, and submit more than $69 million in fraudulent claims for testing for allergies and Covid-19, according to a complaint unsealed Tuesday.

Mark Schena, the president of Arrayit Corp., was charged with one count of securities fraud and one count of conspiracy to commit health care fraud. The charges against the executive represent the first criminal securities prosecution related to the ongoing pandemic, according to David L. Anderson, the U.S. Attorney for the Northern District of California.

Starting around 2018, ...