Ex-ArthroCare CFO Pleads Guilty After First Sentence Nixed

By Melissa Daniels (June 14, 2017, 8:52 PM EDT) -- The former chief financial officer at ArthroCare Corp. copped to a conspiracy charge for his role in an alleged multimillion-dollar securities fraud scheme in a plea agreement filed in Texas federal court on Wednesday after the Fifth Circuit vacated a prior 10-year sentence.

Michael Gluk, 59, was charged alongside co-defendant CEO Michael Baker in 2013 for their role in a multi-year scheme to park millions of dollars' worth of medical devices with distributors at the end of each quarter to boost the company's sales and revenue numbers.

Gluk was initially sentenced to 10 years after a jury found him guilty of...

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