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US biotech executive sentenced to 7 years in jail for COVID test fraud

Keith Berman, 70, of Westlake Village, California, pleaded guilty last December to securities fraud totaling around $28 million. The Justice Department said that from February through December 2020, Berman falsely claimed his Decision Diagnostics company had developed a 15-second test to detect COVID-19 in a finger prick sample of blood when, in reality, no such test existed. "Berman defrauded investors to profit from the pandemic," Nicole Argentieri, head of the Justice Department&#...
Westlake Village United States Keith Berman Nicole Argentieri Leslie Adler David Ljunggren
Source: yahoo.com

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Come on, man, securities fraud around blood tests is played out.

Keith Berman, who claimed he wasnโ€™t taking compensation in his role as CEO, actually splashed out a bunch of company money on himself. Also, he claimed that he could test for covid in 15 seconds. Also also, my guy used a โ€œfake persona to repeat false and misleading statements to investors on internet message boards.โ€
Keith Berman

DOJ's Robust 2020 Pandemic Response Signals Increasing Focus on COVID-19-Related Fraud in 2021 | Troutman Pepper

Who Needs to Know Why It Matters As evidenced in the recently published 2020 Year in Review Report (Report), the Department of Justiceโ€™s Fraud Section (Fraud Section) demonstrated its resilience despite the COVID-19 pandemic, as well as its swift response to the evolution of pandemic-induced fraud โ€” a trend we expect will continue throughout 2021. As evidenced in the recently published 2020 Year in Review Report (Report), the Department of Justiceโ€™s Fraud Section (Fraud Section) demonstra...
United States New Jersey Ashley Hoobler Parris Imran Selcuk Keith Berman Mark Schena

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