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Former Stimwave CEO convicted of healthcare fraud

The U.S. Justice Dept. announced last week that a jury found former Stimwave CEO Laura Perryman guilty of healthcare fraud.

Damian Williams, U.S. Attorney for the Southern District of New York, last week announced the jury’s verdict. It found Perryman guilty on two counts of an indictment charging her with conspiracy to commit healthcare fraud and wire fraud and substantive healthcare fraud.

The jury convicted her of one count of healthcare fraud, which carries a maximum sentence of 10 years in prison. It also found her guilty of one count of conspiracy to commit healthcare fraud and wire fraud. That carries a maximum sentence of 20 years. The actual sentencing remains to be determined by the judge, DOJ said.

This verdict marks the latest development in a long-running case against Perryman. She founded and served as CEO of Florida-based Stimwave until her termination in 2019. The issues stem from the creation and sale of a fake medical device compo…

SEC: former Stimwave CEO defrauded investors out of $41M with fake neuromod implant

The SEC charged Laura Perryman, former Stimwave CEO and co-founder, with defrauding investors out of approximately $41 million.

Perryman founded and served as CEO of Florida-based Stimwave until her termination in 2019. In February 2020, Stimwave ceased all sales of its high-frequency spinal cord stimulation systems in exchange for the dismissal of a patent infringement lawsuit brought by rival Nevro.

Stimwave filed for bankruptcy on June 15, 2022. Perryman was arrested after the DOJ filed a two-count indictment against her in March of this year.

In the SEC’s charges, announced on Dec. 19, the commission claims Perryman made false and misleading statements about Stimwave’s key product. This device comprised several components. One was a fake, non-functional component implanted into patients’ bodies, the SEC says.

What the SEC said about Perryman and Stimwave

The SEC alleges that, during capital fundraising events from 2018 throug…

DOJ indicts former Stimwave CEO over alleged non-functioning neuromod implant

The U.S. Justice Dept. (DOJ) announced today that it filed a two-count indictment charging former Stimwave CEO in connection with a scheme around the company’s neuromodulation technology.

Damian Williams, the United States Attorney for the Southern District of New York, Michael J. Driscoll, the Assistant Director in Charge of the New York Field Office of the FBI, and Fernando P. McMillan, the Special Agent in Charge of the New York Field Office of the FDA – Office of Criminal Investigations — announced the charges filed against Laura Perryman.

The charges allege connection with a scheme to create and sell a non-functioning, dummy medical device. DOJ said Stimwave designed the implant for patients suffering from chronic pain. It alleges that the scheme resulted in “millions of dollars in losses to federal healthcare programs.”

Perryman founded and served as CEO of Florida-based Stimwave until her termination in 2019. She was arrested thi…