Revolutions Medical CEO Ron Wheet has been found not guilty of allegations of filing false stock registration statements, according to Charleston, S.C.’s Post & Courier.
The case was based around allegations that Wheet and former investor relations head Bryon Key issues more than 1.2 million shares of company stock to at least 11 people using false SEC filings, according to the paper.
A jury for the US District Court for the District of South Carolina returned a not-guilty verdict in 3 felony charges Sheet was facing after a 5-day trial.
