July 3, 2014 by Brad Perriello
The a federal judge declines to overturn the convictions of former ArthroCare CEO Michael Baker and CFO Michael Gluk in a $400 million scheme to defraud investors.
A federal jury yesterday refused to overturn the convictions of 2 former ArthroCare (NSDQ:ARTC) executives found guilty last month of masterminding a scheme to defraud investors of some $400 million.
Former ArthroCare CEO Michael Baker was found guilty in June of conspiracy to commit wire and securities fraud, wire fraud, securities fraud and false statements and remanded into custody, according to a press release. Ex-CFO Michael Gluk was found convicted of conspiracy to commit wire and securities fraud, wire fraud and securities fraud.
