SEC Charges Imaging3, Inc. and CEO Dean Janes With Fraud
6/27/2013 9:14:55 AM
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The SEC accuses Imaging3 and CEO Dean Janes with lying to investors to downplay the FDA's reasons for rejecting the company's proprietary medical scanner. The U.S. Securities & Exchange Commission today charged Imaging3 (OTC:IMGG) and founder Dean Janes with defrauding investors by lying to downplay the nature of the FDA's repeated rejections of the company's application for a 3-dimensional medical scanner. Janes allegedly told investors that the FDA's concerns were "not substantive" and largely "administrative," even though "the FDA cited concerns about the safety of the device and the quality of the images," according to the SEC report.
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