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SEC charges ex-CEO of medical device company with fraud, says some devices were ‘just a piece of plastic’

By CNBC  
   December 21, 2023

The complaint alleges that Perryman misrepresented a Stimwave device that was supposedly able to treat chronic nerve pain by using electrical signals. The device is made up of a transmitter, an electrode array and a receiver, which was “in reality, fake and nothing more than a piece of plastic,” according to the SEC.

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