PENDING CRIMINAL DIVISION CASES

United States v. Ajay K. Anand
Court Docket Number: 2:12-cr-00589-JAK

This case is assigned to the Honorable John A. Kronstadt, United States District Court Judge for the Central District of California, Edward R. Roybal United States Courthouse, 255 East Temple Street, Los Angeles, California.

On November 7, 2013, Ajay K. Anand was sentenced to one year of probation. Ajay K. Anand, a former investor in and consultant for Signalife, Inc. (Signalife), a corporation that purportedly manufactured and sold electronic heart monitor products, pleaded guilty to one count of obstruction of proceedings before the Securities and Exchange Commission (SEC) (Count 1: 18 U.S.C § 1505) charged in a June 2012 criminal information stemming from his involvement in making false and misleading statements about his knowledge of and involvement in certain activities of Signalife. Following the plea, Anand was continued on the $5,000 bond previously set in the case.

According to plea documents, from April 2003 to April 2008, Anand was an investor in and consultant for Signalife. Signalife was formerly known as Recom Managed Systems, Inc. and later known as Heart Tronics, Inc. (Heart Tronics). Anand controlled the Silve Group (Silve Group), a consulting group that entered into an agreement with Signalife in January 2007 to promote the sale of certain Signalife products to various international markets. In pleading, Anand acknowledged that he understood that Mitchell Stein, a defendant in a related case, acted as corporate counsel and in other capacities for Signalife. During the summer of 2007, Stein proposed the idea of artificially inflating Signalife's reported revenues with Anand and also requested that Anand send Signalife a false and misleading document purporting to be a purchase order for Signalife's products, which Anand refused to do. However, Anand admitted that in the winter of 2007 he assisted Stein with the creation and dissemination of a false and misleading document purporting to be a purchase order for Signalife's products. Anand also admitted that, among other topics, he made false and misleading statements about Stein's involvement with Signalife, the Silve Group's involvement with Signalife, the purported purchase orders, and his knowledge about Stein's activities during a July 2010 sworn testimony before the SEC as part of an investigation regarding Signalife. Anand admitted that he made these false and misleading statements in an effort to influence, obstruct, and impede the SEC's investigations.

In a related case, United States v. Mitchell J. Stein, a jury found Stein guilty on all counts on May 20, 2103. Stein was charged in a December 2011 indictment with conspiracy to commit mail and wire fraud, mail fraud, wire fraud, securities fraud, money laundering, and conspiracy to obstruct justice stemming from a five-year multi-million dollar market manipulation fraud scheme. Sentencing has been rescheduled for February 10, 2014 at 9:00 a.m. before U.S. District Court Judge Kenneth A. Marra in Courtroom 4, Paul G. Rogers Federal Building, 701 Clematis Street, West Palm Beach, Florida 33401. Also, in another related case, United States v. Martin B. Carter, Carter, the former co-chief technology officer of Heart Tronics, was sentenced to time served and 36 months of supervised release. Carter pleaded guilty in October 2011 to one count of conspiracy to commit mail fraud, wire fraud and obstruction of justice charged in a September 2011 criminal information stemming from the same scheme.

Information

Updated June 15, 2015