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Ex-ArthroCare Chiefs Convicted Of Orchestrating Fraud

The former top leaders of ArthroCare have been convicted for working in cahoots with distributors to overstate ArthroCare’s earnings. Both face significant prison time for their roles in the scam, according to the Department of Justice.

A federal court found both the former CEO and chief financial officer of ArthroCare Corp. guilty of a running a conspiracy to bilk investors out of more than $400 million between 2005 and 2009 by artificially inflating sales and revenue numbers.

After a four-week trial, on June 2, a jury in the Western District of Texas found former CEO Michael Baker...

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