I-TEAM: Owner of Silicon Valley lab faces federal fraud charges, accused of filing more than $69M false COVID-19 test claims

SAN JOSE, Calif. (KGO) -- The founder of a Silicon Valley lab, Mark Schena of Los Gatos, appeared before a San Jose Federal Court judge Tuesday by telephone, in what the Department of Justice says is the first criminal securities fraud prosecution related to the COVID-19pandemic.

WATCH: I-TEAM uncovers unsettling background behind COVID-19 antibody testing site

After several complaints about a coronavirus antibody testing site in San Jose, TestMe2, the ABC7 I-TEAM did some research. Here's what Dan Noyes found in his investigation.

Schena, 57, is charged with an alleged scheme to mislead investors and commit health care fraud by filing more than $69 million in false and fraudulent claims for coronavirus testing he developed at his laboratory, Arrayit Corporation in Sunnyvale.

The ABC7 I-Team first reported questions about the performance of Schena's COVID-19 tests just a day before his arrest in June, and followed up once charges were announced.

I-TEAM: Founder of Silicon Valley lab charged with fraud in connection to COVID-19 antibody tests

Schena is out on bail while the criminal case and a civil complaint brought by the Securities and Exchange Commission move forward.

Prosecutors say they are targeting a trial start date in March.

Take a look at more stories by Dan Noyes and the ABC7 News I-Team.

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