Previous S-Ray CEO Stephen Baird was found dead after , missing his imprisonment hearing , for wire fraud last year, the Department of Justice said in a media release on Wednesday.
After being investigated into his use of buyer money while leading the startup S-Ray, a medical device, in May, Baird, 69, admitted to one count of wire fraud. Prosecutors were urging U.S. District Judge Richard Jones to send a 7-year jail sentence in addition to more than$ 10 million in compensation.
On Friday, Jones issued an arrest warrant for him after he failed to appear for the reading in the U.S. District Court for the Eastern District of Washington.
The Justice Department did not provide more information or the cause of death.
He was found near his home in Terrebonne, Ore.
Baird was also facing civil penalties totaling more than$ 6 million as a result of a Securities and Exchange Commission civil lawsuit that started in March 2022. After submitting a pause in that case, he did not respond to the court, and a federal prosecutor entered a default judgment against him.
According to data from the Washington Secretary of State, Baird previously set up the business in Portland before moving it to Seattle in 2016. He had a home that when he bought a house in 2015 and was a citizen of Bainbridge Island. The house sold in 2019, according to Kitsap County home files.
According to a department spokesperson, the Justice Department did submit a motion to dismiss his situation.
The spokesperson stated that the government would continue to pursue all legal options for monetary gain for the victims.
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