John Schulte, the former CEO of Colorado Springs-based medical laser maker Spectranetics Corp., was found guilty of one charge but acquitted of 11 other counts following a trial in federal court, The Gazette reports.
Another former employee was acquitted of the five charges against him.
Schulte was found guilty of lying to federal investigators. He was found not guilty of charges of conspiring to defraud the government and smuggling unapproved medical devices in the country.
The trial lasted almost five weeks; jurors deliberated for a day.
