Federal Grand Jury Indicts Medical Device Execs On Fraud Conspiracy Charges

PROVIDENCE, RI — A federal grand jury in Rhode Island indicted two medical device executives on fraud conspiracy charges, according to the U.S. Attorney's Office.

Thomas Sandgaard, 67, a resident of Castle Rock, Colorado and a dual citizen of the United States and Denmark, and Anna Lucsok, 39, a resident of Denver, Colorado and a dual citizen of the United States and the Ukraine, were indicted on charges of conspiracy to commit health care fraud, mail fraud, and securities fraud, health care fraud, mail fraud and aggravated identity theft, the U.S. Attorney's Office said in a media release.

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Sandgaard and Lucsok were the chief executive officer and chief operating officer of Zynex, a medical device company, according to the release.

"The indictment alleges that from at least 2017 through late 2025, Sandgaard and Lucsok orchestrated a scheme to fraudulently obtain millions of dollars from government and private health care payors and patients, and to defraud investors in Zynex by concealing that the company’s billings and revenues were driven by fraud," the release said.

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"In total, Sandgaard and Lucsok caused Zynex to collect more than $873 million for its products, including more than $600 million for supplies," the release said. "The vast majority of the supplies’ billings were unnecessary and improperly billed. The indictment alleges that supplies were shipped in excessive volumes, sometimes as large as 32, 64, or 128 electrode pairs per patient each month. Sandgaard and Lucsok used these fraudulent billings, and the revenues derived from them, to fraudulently inflate the company’s financial reporting and drive up the stock price of Zynex."

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When financial reporters raised questions about Zynex’s business practices, Sandgaard hired someone to "attempt to disrupt the reporters’ personal lives," according to the release.

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"These efforts included signing reporters up for therapy sessions and listing conditions such as erectile disfunction," the release said. "They also sent used female underwear to a reporter’s spouse at the reporter’s home with a thank you card addressed to the spouse, detailing the reporter’s alleged 'illicit behavior' — all apparently with the intent to convince the spouse that her husband was being unfaithful."

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