DiscoCare claims another guilty plea.
John Raffle, the former ArthroCare Corp. senior vice president of Strategic Business units, pleaded guilty in June to one count of conspiracy over the DiscoCare scandal.
His plea was unsealed by the Justice Department on July 22; just days after the company’s former CEO Michael Baker and former CFO Michael Gluk were indicted over the same scandal.
All the former executives allegedly inflated sales and revenue numbers at the end of reporting quarters to meet Wall Street analyst expectation. They are accused of “parking” products at DiscoCare, an ArthroCare distributor, and then later worked to acquire the company to try and cover up the false sales.
Baker’s attorney, Jay Pomerantz said his client did nothing wrong in a written statement following Baker’s indictment. “We are confident that a jury will conclude that Mr. Baker is innocent.”
Jason Lewis, Gluk’s attorney, reportedly didn’t immediately return media calls. Gluk is scheduled to be arraigned July 25 in federal court in Austin, according to court documents.
A fourth former executive, David Applegate, pleaded guilty in May to two counts of fraud.
