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Washington, DC - The chief executive officer (CEO) of a California-based medical device company was indicted by a federal grand jury in connection with an alleged scheme to defraud investors by making false and misleading statements about the purported development of a new COVID-19 test, leading to millions of dollars in investor losses.
Keith Berman, 67, the CEO of Decision Diagnostics Inc. (DECN), was charged by indictment, unsealed with one count of securities fraud and one count of making false statements. The indictment alleges that, from February through December 2020, Berman engaged in a scheme to defraud investors by falsely claiming DECN had developed a 15-second test to detect COVID-19 in a finger prick sample of blood. In truth, Berman knew his test was merely an idea and not a validated method of accurately detecting COVID-19, much less an actual product ready for manufacture and sale. According to the indictment, Berm
CEO Charged in Rapid COVID-19 Test Scam
Decision Diagnostics’ stock soared 1,500% in less than two months on allegedly false claims of a 15-second COVID-19 test.
The US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have charged the CEO of a California-based medical device company for allegedly leading a scheme to defraud investors out of millions of dollars by falsely claiming his company created a 15-second rapid COVID-19 test.
Decision Diagnostics Inc. (DECN) CEO Keith Berman has been charged by the DOJ with one count of securities fraud and one count of making false statements, while the SEC has charged Berman and his firm with violating antifraud provisions of the securities laws.
DECN to Announce Various Testing Results This Week for Its COVID-19 GenViro! Swift Kit albuquerqueexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albuquerqueexpress.com Daily Mail and Mail on Sunday newspapers.
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The company and its CEO thank supporters and remain fully committed; company will also provide a series of GenViro! test results it has amassed demonstrating the technology s promise
LOS ANGELES, CA / ACCESSWIRE / December 21, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) www.decisiondiagnostics.co, a leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters through its subsidiary Pharma Tech Solutions, Inc., as well as the designer and manufacturer of the proposed GenViro! Covid-19 :10 test kits, today announced it is proceeding with final testing of the GenViro! Covid-19 Saliva Swift Kit and will continue in its efforts to bring this valuable technology to market. Initially, the company will be releasing a series of test results collected from its Korean partner, from the detailed XPRIZE sample testing and as it becomes available, from its US-based testing, all of which will be submitted to the FDA for EUA consi