Another Ex-ArthroCare Exec Cops To $400M Fraud Scheme

Law360, Chicago (July 23, 2013, 1:41 PM EDT) -- A former ArthroCare Corp. executive has changed his plea to guilty for his role in a scheme that allegedly defrauded the Texas-based medical device company’s investors of $400 million, the U.S. Department of Justice said Tuesday.

John Raffle, 45, agreed a month ago to plead guilty to conspiracy and making false statements, but the plea was only unsealed late Monday, according to a DOJ statement. The news comes one week after the government unsealed an indictment against Raffle’s superiors — ArthroCare CEO Michael Baker and Chief...
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