The Medical Device Business Journal — Medical Device News & Articles | MassDevice
(Reuters) — A California jury yesterday cleared former Chicago Bears wide receiver Willie Gault of intentionally defrauding investors in a scheme to inflate the price of stock in the heart-monitoring device company Heart Tronics.
A California District Judge harshly refused former Signalife and Heart Tronics lawyer Mitchell Stein’s motion for a retrial, taking offense to the request itself.
Mitchell Stein, the ex-outside counsel for Signalife (later Heart Tronics), was convicted in May on 14 charges that he masterminded a 5-year fraud scheme to pump up the heart monitoring device company’s share price. Now federal prosecutors want him to cough up not only his ill-gotten gains, but the loot taken by his ex-chauffeur co-conspirator.
The scheme eventually ensnared alleged co-conspirator Willie Gault, the ex-Chicago Bears and track star who became the co-CEO of Heart Tronics in 2008.
