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Is there a positive note to this?
If he would of just copped a plea back in 2020, he probably would be out in another year (5 years) and the other defendants would be out and starting a new life. Instead he is in for many years and the co-defendants are just now paying their time.
Release Date: 11/15/2030
I'm pretty sure that the appeals will run their course and uphold the trial results. Davala is a seasoned judge and as the DOJ noted they had a wealth of evidence against Dr Schena. That's including 4 conspirators that testified against him. I think we can all feel safe that he will be inside until at least 11/15/2030. That's of course assuming that there's no binder throwing or other such behavior that would extend his sentence to the full 8 years.
It must have been really interesting being a retired lawyer seeing all of this unfold. Most of this defies common sense.
Absolutely agree! I never told my Feducy anything. I will be retired regardless of Mark's antics whenever I'm ready to sell my business. 1/2 million either way would never change my life either. Life is good! I hope all are well and are able to turn the page also. Cheers!
Well, as you have eluded to over several months, the wheel of justice is slow but will continue to turn. I think is is despicable that the DOJ, FBI, SEC refused to pay up on the ppl who filled the paperwork and did the submittals to make their job immensely easier and provided correspondence that ultimately contributed to the case. Perhaps I forgot to cross a "T" or dot an "i". Gov't sucks overall, but definitely satisfied with the result. Compensation was warranted imo, but never got a lawyer involved, so without representation I got nata. Life is good. I have plenty of dough, and this was a side bet that netted me more than if I didn't get involved. Happy to help the Gov't that doesn't help anyone. Bastards. Got, what appears to be the last letter from the DOJ. Alls well that ends well. Not sure how many ppl Mark screwed, but would like to hear on here. Delsurfer probably died and never got finality. Idk. MikeCr was the 2nd longest that I remember. Crazy ride for sure. Cheers!
I should mention, I'm a retired lawyer. My son is a CPA.
A defendant can only appeal on questions of legal application, not on the facts. You don't get to try the facts a second time.
"The appellate courts do not retry cases or hear new evidence. They do not hear witnesses testify. There is no jury. Appellate courts review the procedures and the decisions in the trial court to make sure that the proceedings were fair and that the proper law was applied correctly."
https://www.uscourts.gov/about-federal-courts/court-role-and-structure/about-us-courts-appeals#:~:text=The%20appellate%20courts%20do%20not,proper%20law%20was%20applied%20correctly.
You saying appeals court may not be just?
Maybe Marks appeal will find him not guilty?
I doubt anyone behind ARYC has two nickels at this late point.
Any investor who has a few $ million to hire for investigators and lawyers might consider that extreme longshot option. Or maybe Mark will feel guilty and pay everyone back with his earnings after his release. Do you think Mark and Rene feel guilty?
But the time to consider who is behind the corp is likely long over. Personally every stock I own is a blue chip, usually a S&P 500 member and ALWAYS audited by a Big 4 CPA (like my son). Perhaps wifey Rena is working on repayment now. You can figure the odds of that.
Violating Fiduciary Responsibility
There might be some legal remedy for the people that were damaged here. Fraud was proven at ARYC so the veil of limited corporate liability will not protect the owner in such a case:
https://smallbusiness.chron.com/can-person-owns-corporation-sued-fraud-59472.html
The owner of a corporation has a fiduciary responsibility. That means the investors have placed trust in the owner to manage and protect the company's money and property. If the owner violates that trust by mishandling funds or other company assets and then covering up that violation, investors can claim fraud. The liability protection of corporate status will not protect the owner from this kind of wrongdoing.
A corporate owner also has a fiduciary responsibility to the public and can be found liable if he perpetuates fraud on the public as well. For example, if he forms a corporation that has no money but claims it has cash reserves, and he uses that corporation to sell bonds to the public, he has committed fraud. The veil of limited corporate liability will not protect the owner in such a case.
Not sure what people could go after since there's already 24M in restitution outlined. But I'm guessing if they are still going on as a company then there are assets that might be retrievable. Check with legal resources.
There was another even bigger cost for people who bought into this fairly obvious scam, gains that were missed by being in ARYC rather than in legitimate stocks during perhaps the greatest bull market in US history.
Consider the S&P's Total Return from the most recent severe drawdown in 2009 until today (an all-time high). Consider the fabulous price appreciation of the broad market, gains from ever-rising dividends and corp stock buybacks. Wikipedia places the S&P's recent 5-year annualized total return at 14%, and its 10-year annualized total return at 13%.
Anyone could have ridden along with that bull market simply by owning an S&P500 index fund. Many blue chip investors surely did even better.
Compounding of interest has been described as being one of the Wonders of the World. You totally missed that by being in this rubbish unaudited, unlisted junk stock. Skim the below article to learn more about what you've missed.
https://en.wikipedia.org/wiki/S%26P_500
..
I guess the SEC is the least of his concerns at this point
Pickles motion to withdraw from the SEC case was just granted on 1/30/24. There has been no movement in the case. Mark received the complaint has not responded and now he needs a new attorney. Pickles states they had settlement talks with SEC, but they went no where.
We still have Paul Haje to be sentenced.
Then the chapter will be closed on all the felons. I'm thinking they give him two years. We will see in March.
It's very sad and confusing on exactly why this unfolded like it did. But we know the consequences now of what happens when you do break the law and then try to gaslight everyone into thinking that you did nothing wrong. Dr Schena has roughly 7 years in an Atwater bunk bed to think about things. Then after 2030 he has three more years to report to the parole board. Not to mention the millions in restitution. Anyone see what the SEC handed down? I'm guessing he's banned forever from being part of a public company.
Hopefully it brings a sense of justice for people who lost a lot of money, and a cautionary tale to those who even think about getting around the system for their own benefit.
Well that should conclude this board. Hope no one got too hurt by Mark's shenanigans. Glad he finally got what was coming to him. Cheers!
The infidelity rate of people that go to prison 2 years or less is 98.7% against the inmate. The inmate finds himself at a 99.3% infidelity rate. Bubba doesn't know what infidelity means, he just pushes the stats. Lol.
The tech was a total fraud. There were too many obstacles that Mark could not overcome. So he lied, got a Porsche, and went to jail.
ARYC was not charged with anything?
What made anyone think Aryc was a legit company??
I still think the company can survive?
Lucky you got your investment back. I did not.
They told me I wasn't eligible because I sold shares and recouped my original investment plus 20k. Bastards.
Perhaps Aryc has an expert in prison stocks now? With today’s article about planned parenthood redefining what sex is we could have an inside track to new ventures. Jason Neilson the convicted criminal could be an insider. 2024 and huge wealth coming!!
<< Maybe he can arrange for a VIP tour!!! >>
LOL
And then post the photo on social media. 😃
Looks very cosy!!! Maybe he can arrange for a VIP tour!!! Rotf
Schena stiffed his lawyer so he withdrew
Pickles finished the trial without getting paid. I think Schena has been assigned council Forma Pauperis:
Lat. 'in the form of a pauper.' Someone who is without the funds to pursue the normal costs of a lawsuit or criminal defense. Upon the court's granting of this status the person is entitled to waiver of normal costs and/or appointment of counsel (but seldom in other than a criminal case).
It can also refer to a petition filed by a poor person in order to proceed in court without having to pay court costs such as filing fees.
So I'm sure these are just standard appeals that will run their course and get denied. There would have to be some gross error in the trial format to overturn what has been handed down. I'm sure he's appealing the sentence AND the money he has to pay for restitution. Both will be denied in time. I would expect he would be in camp until 2031 or so.
There are actually 2 appeals open per pacer, the latest one was filed IIRC 12/23/2023
He's in the minimum security satellite camp
Not that it's any better but he won't be with the hard criminals. He'll be in the bunks in the barracks.
I'm guessing the appeal is pretty standard
Unless there was some error in the trial I think Schena should get comfortable at Atwater Camp.
1/25/24 "An appeal has been filed in the case which involves defendant(s) Mark Schena. The process may take some time before a final decision is reached. An appeal is a legal proceeding by which a case is brought before a higher court for review of the decision made by the lower court."
I'm thinking Mark's in BIG trouble at Atwater. Don't miss the comments at the bottom.
Congrats Mark. You got what you deserve. Enjoy.
Hopefully inmate 26292-111 has been working out and needs to secure a shank asap. From what I understand, the minimum security inmates work in the high security prison, that where he will meet his new friends
We can interchangably use the name Mark or inmate 26292-111
I guess Mark will have a cell mate and meet interesting neighbors from around the world such as....:
"On August 2, 2006, Juwan Ferguson and the victim, Domosanies Slaughter, were cellmates in the Special Housing Unit at USP Atwater. Ferguson, a repeat felon with a lengthy criminal history, told several correctional officers at different times during that day that he wanted Slaughter removed from his cell. After he repeated this request to another officer, Slaughter hit Ferguson in the face. Ferguson responded by beating Slaughter into unconsciousness and then continuing to beat him even after he was unconscious. Correctional officers observed Ferguson drag Slaughter out from underneath one of the beds in the cell. Ignoring orders to stop, Ferguson continued to strike Slaughter's head against the concrete floor and kick the back of his head until he was restrained. Slaughter was transported to an area hospital, where he died on August 8, 2006."
Mohamud Salad Ali:
"Somali pirate leader; pleaded guilty in 2011 to piracy in connection with the 2011 hijacking of the civilian yacht Quest, during which four US citizens were killed; Nine other pirates are serving life sentences at other federal facilities"
So far, it looks like Mark's in the regular high security unit, rather than the minimum security "camp."
"The United States Penitentiary, Atwater (USP Atwater) is a high-security United States federal prison for male inmates in unincorporated Merced County, California.[1] The institution also includes a small minimum-security satellite camp."
Meet Mark's new friends and notice the sections on inmate murders and notable inmates. "The United States Penitentiary, Atwater (USP Atwater) is a high-security United States federal prison for male inmates in unincorporated Merced County, California.[1] The institution also includes a minimum-security satellite camp. It is operated by the Federal Bureau of Prisons, a division of the United States Department of Justice..
https://en.wikipedia.org/wiki/United_States_Penitentiary,_Atwater
Is this stock still alive? I have a little and wondering if I can take a tax loss on this or what happens now?
Mark's new home for the next 8 years. He checked in yesterday
https://www.bop.gov/locations/institutions/atw/
Rene was the CEO and was banned for two years from running Arrayit.
The guys at Treadstone, lol
Who is running arrayit now?
tomorrow is Mark's last day as a free man. He needs to report by 2pm on the 24th. I noticed there are two appeals cases both with the Davilla, but nothing appears to be moving.
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Arrayit Corporation
United States v. Mark Schena
Court Docket No.: 5:20-CR-00425
Court Assigned: These cases are assigned to the U.S. District Court for the Northern District of California, Robert F. Peckham Federal Building & United States Courthouse 280 South 1st Street, Room 2112 San Jose, CA 95113.
Next Proceeding: A status conference has been set for August 30, 2021 at 9:00 AM before U.S. District Judge Edward J. Davila. This hearing will be held via videoconference. Please contact us at Victimassistance.fraud@usdoj.gov if you would like to attend and require access instructions.
A trial is scheduled before Judge Edward Davila on May 10, 2022, 09:00 AM at Courtroom 4, 5th Floor, 280 So. First Street, San Jose, CA for the case which involves defendant(s) Mark Schena. At this time the Trial dates are set for: 5/10/22 - 6/3/2022.
Latest Update: In a superseding indictment filed on May 18, 2021, defendant Schena was charged with new counts of health care fraud, conspiracy to pay kickbacks and payment of kickbacks in connection with false and fraudulent statements about the existence, regulatory status and accuracy of an Arrayit COVID-19 test. The conspiracy allegedly sought to induce the ordering of the Arrayit COVID-19 test and to bundle, i.e., require combination with, the COVID-19 test and Arrayit’s medically unnecessary allergy test. The COVID-19 test results were not provided in a timely fashion and were not reliable in detecting COVID-19.
Criminal Charges: The president of a California-based medical technology company was charged in an indictment filed in the Northern District of California, in connection with his alleged participation in schemes to mislead investors and commit health care fraud in connection with the submission of over $69 million in false and fraudulent claims for allergy and COVID-19 testing.
The charges against Mark Schena, 57, the president of Arrayit Corporation, is the first criminal securities fraud prosecution related to the COVID-19 pandemic that has been brought by the Department of Justice and charges three counts of securities fraud and one count of conspiracy to commit health care fraud. According to the affidavit in support of a criminal complaint issued in June 2020, Schena touted that Arrayit is the “only laboratory in the world that offers” revolutionary “microarray technology” that allows Arrayit to test for allergy and COVID-19 based on a finger-prick drop of blood that is placed on a paper card and sent by mail to Arrayit’s laboratory. In the first phase of the scheme, beginning in or around 2018 and continuing to in or around February 2020, Schena and others paid kickbacks and bribes to recruiters and doctors to run an allergy screening test for 120 allergens (including things ranging from stinging insects to food allergens) on every patient regardless of medical necessity, and then made numerous misrepresentations to potential investors about Arrayit’s allergy test sales, financial condition, and its future prospects. In the second phase of the scheme, beginning in or around February 2020, Schena and others made false claims concerning Arrayit’s ability to provide accurate, fast, reliable, and cheap COVID-19 tests in compliance with state and federal regulations, and made numerous misrepresentations to potential investors about the COVID-19 tests and Arrayit’s future prospects for COVID-19 testing.
Victim Impact Statement: If you would like to submit a Victim Impact Statement, you may do so by mailing the Victim Impact Statement below (or a letter to the court) to: Victim Witness Unit, U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, Room 4416, Washington, DC 20530. You also may submit the Victim Impact Statement via email at Victimassistance.fraud@usdoj.gov or by fax at: (202) 514-3708. Please note that during the Department’s period of telework in response to the COVID-19 pandemic, responses to faxes may be significantly delayed.
The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at VictimAssistance.fraud@usdoj.gov.
Victim Rights and Contacts: If you believe you are a victim who has invested in Arrayit, or you have taken a COVID-19 test prepared or marketed by Arrayit, please contact: The Fraud Section’s Victim Witness Unit toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov.
The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov. Please note: As a result of the COVID-19 pandemic response, the most reliable method of contacting victim-witness staff is via e-mail. If you need to speak to someone over the phone, let victim-witness staff know in your e-mail, and someone will call you as soon as practicable.
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