Former Medical Device CEO Convicted of Fraud for Selling Fake Components
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Laura Perryman, former CEO of Stimwave medical device company, convicted by jury of healthcare and wire fraud charges for selling fake medical device component.
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Perryman created a plastic "White Stylet" device that was marketed to doctors as a legitimate component for billing insurers, but was non-functional.
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Doctors were instructed to implant real and fake devices into patients and bill insurers around $18,000 per procedure.
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Over several years, Perryman directed scheme to design, manufacture and sell the fake devices to doctors to generate device sales revenue.
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Perryman faces up to 20 years in prison on each of the two conviction counts.