Medical startup executive gets probation in fraud case
CHARLESTON, S.C. (AP) — A former executive at a South Carolina-based medical device startup who pleaded guilty to conspiring to defraud federal stock regulators has received probation.
The Post and Courier of Charleston reports 46-year-old Bryon Scott Key was sentenced to five years’ probation Tuesday after pleading guilty to the felony charge earlier this year, in connection with actions undertaken while head of investor relations at Revolutions Medical Corp.
Prosecutors had dropped five charges as part of the plea deal, and recommended leniency. U.S. District Court Judge Margaret Seymour says she took the defendant’s personal characteristics and self-improvement steps into consideration.
Key will be on home detention for eight months and will pay $9,500 in restitution.
Revolution Medical CEO Rondald Wheet is scheduled to stand trial on civil fraud charges in Atlanta next month.
Information from: The Post and Courier, http://www.postandcourier.com