{"id":1995,"date":"2018-01-05T22:44:09","date_gmt":"2018-01-06T04:44:09","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1995"},"modified":"2022-08-29T09:26:49","modified_gmt":"2022-08-29T14:26:49","slug":"criminal-securities-fraud-former-arthrocare-cfo-sentenced-750m-scam-ex-lawyer-marti-shkreli-convicted-concealing-financial-scheme-former-bankrate-cfo-accused-rigging-firm","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/criminal-securities-fraud-former-arthrocare-cfo-sentenced-750m-scam-ex-lawyer-marti-shkreli-convicted-concealing-financial-scheme-former-bankrate-cfo-accused-rigging-firm\/","title":{"rendered":"Criminal Securities Fraud: Former ArthroCare CFO is Sentenced in $750M Scam, Ex-Lawyer of Marti Shkreli is Convicted for Concealing Financial Scheme, and former Bankrate CFO is Accused of Rigging The Firm\u2019s Books"},"content":{"rendered":"<p><strong>Ex-CFO of ArthroCare Gets Prison Term for $750M Securities Fraud<\/strong><br \/>\nMichael Gluck, the ex-CFO of ArthroCare Corp., is sentenced to over four years in prison for his role in a $750M financial fraud. Gluk pleaded guilty to securities fraud and conspiracy to commit wire fraud last year.<\/p>\n<p>Gluk, ex-ArthroCare CEO Michael Baker, and others are accused of artificially inflating revenue and sales in an effort to keep the medical device company\u2019s stock price up. As a result, shareholders sustained more than $750M in losses.<\/p>\n<p>Baker was sentenced to 20 years behind bars. Gluk had previously been sentenced to 10 years in prison after he was convicted in 2014 for his role in the scam. However, a federal appeals court overturned the conviction, hence his new plea agreement and sentence. He also must forfeit nearly $678K and pay a $50K fine.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/criminal-securities-fraud-former-arthrocare-cfo-sentenced-750m-scam-ex-lawyer-marti-shkreli-convicted-concealing-financial-scheme-former-bankrate-cfo-accused-rigging-firm\/#more-1995\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ex-CFO of ArthroCare Gets Prison Term for $750M Securities Fraud Michael Gluck, the ex-CFO of ArthroCare Corp., is sentenced to over four years in prison for his role in a $750M financial fraud. Gluk pleaded guilty to securities fraud and conspiracy to commit wire fraud last year. Gluk, ex-ArthroCare CEO Michael Baker, and others are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748,3792,3741],"tags":[],"class_list":["post-1995","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","category-ponzi-scams","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Criminal Securities Fraud: Former ArthroCare CFO is Sentenced in $750M Scam, Ex-Lawyer of Marti Shkreli is Convicted for Concealing Financial Scheme, and former Bankrate CFO is Accused of Rigging The Firm\u2019s Books &#8212; Investor Lawyers Blog &#8212; January 5, 2018<\/title>\n<meta name=\"description\" content=\"Ex-CFO of ArthroCare Gets Prison Term for $750M Securities Fraud Michael Gluck, the ex-CFO of ArthroCare Corp., is sentenced to over four years in prison &#8212; January 5, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/criminal-securities-fraud-former-arthrocare-cfo-sentenced-750m-scam-ex-lawyer-marti-shkreli-convicted-concealing-financial-scheme-former-bankrate-cfo-accused-rigging-firm\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Criminal Securities Fraud: Former ArthroCare CFO is Sentenced in $750M Scam, Ex-Lawyer of Marti Shkreli is Convicted for Concealing Financial Scheme, and former Bankrate CFO is Accused of Rigging The Firm\u2019s Books &#8212; Investor Lawyers Blog &#8212; January 5, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Ex-CFO of ArthroCare Gets Prison Term for $750M Securities Fraud Michael Gluck, the ex-CFO of ArthroCare Corp., is sentenced to over four years in prison &#8212; January 5, 2018\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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