California Tech CEO Sentenced to 8 Years for COVID and Allergy Test Fraud

Mark Schena, a Silicon Valley tech CEO, has been sentenced to eight years in prison and ordered to pay $24 million in restitution for defrauding the government, lying to investors, and paying bribes to doctors. Schena's company, Arrayit Corporation, falsely claimed to have invented technology that could test for allergies and COVID-19 using only a few drops of blood. The company billed Medicare $77 million for fraudulent tests. This case shares similarities with the legal saga of Elizabeth Holmes, the founder of Theranos, who was convicted of investor fraud and is currently serving time in a Texas prison.