US biotech executive sentenced to 7 years in jail for COVID test fraud | Reuters

The chief executive of a U.S. biotechnology company that falsely promised investors it could produce a quick and accurate COVID-19 test was sentenced to seven years’ in jail on Friday, the Justice Department said.

Keith Berman, 70, of Westlake Village, California, pleaded guilty last December to securities fraud totaling around $28 million.

The Justice Department said that from February through December 2020, Berman falsely claimed his Decision Diagnostics company had developed a 15-second test to detect COVID-19 in a finger prick sample of blood when, in reality, no such test existed.

Source: US biotech executive sentenced to 7 years in jail for COVID test fraud | Reuters