Two executives of a pet healthcare company, Sanomedics, have been sentenced to time in prison for a microcap scheme that defrauded over 700 investors of $23 million.
Sanomedics Microcap Scheme
The executives are Sanomedics Inc. founder Craig V. Sizer and president Keith Houlihan. The judge sentenced Sizer to 15 years in prison and Houlihan to 9 years for orchestrating a scheme that used false claims to solicit investors to buy shares in their company. The company sold non-contact infrared thermometers for home health care for dogs.
From April 2009 through August 2015 the company made solicited investors to buy stock in the company. The sales pitch included false statements that the stock was safe and that no commissions would be charged. Some victims were even told that TV’s “Dog Whisperer,” Cesar Millan, was heavily invested in the company. The investment fraud scheme operated out of Miami Lakes, Florida, and Marina Del Rey, California.
Sanomedics Associates Also Sentenced
In June 2017, a Miami federal grand jury convicted five other associates for their roles in the Sandomedics Microcap investment fraud scheme. In addition to their role in the Sandomedics scheme, several defendants used a similar investment fraud scheme to sell shares of Fun Cool Free (FCF), a company that claimed to own a smartphone gaming portfolio with hundreds of gaming applications.
Did Your Loose Money to Sanomedics?
If you are looking for an investment fraud attorney to review your rights and options, the investment fraud lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerages firms for their wrongful actions.
Call an Investment Fraud Attorney Today
With offices in Los Angeles, New York, West Palm Beach and Miami, our investment fraud attorneys represent clients nationwide and may be able to help you recover your investment losses.
Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options.