Two former top executives for Austin-based medical device maker ArthroCare Corp. are facing criminal charges in connection with an alleged $400 million fraud scheme to misstate the company’s earnings, the U.S. Justice Department said Wednesday.
Michael Baker, ArthroCare’s former CEO, and Michael Gluk, the company’s former chief financial officer, were each indicted on a charge of conspiracy to commit wire and securities fraud, 11 counts of wire fraud and two counts of securities fraud. Baker also faces three counts of making false statements, the Justice Department said.
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