A federal grand jury has unsealed an indictment accusing former Zynex, Inc., CEO Thomas Sandgaard and ex-COO Anna Lucsok of conspiracy to commit health care fraud, mail fraud and securities fraud in connection with allegedly deceptive billing practices at the company.
Prosecutors allege the pair orchestrated a scheme dating back to at least 2018 that submitted inflated or improper claims to government and private insurers, including TRICARE, and used the resulting revenue to mislead investors about the company’s financial health.
The charges, filed in federal court after a Justice Department investigation, must be proven beyond a reasonable doubt at trial. Meanwhile, the company itself avoided prosecution by entering a non-prosecution agreement and agreeing to forfeit nearly $100 million in unpaid claims.
Zynex’s headquarters are based in Englewood.
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