SEC charged executives of Medly Health Inc. with defrauding investors on fake prescriptions and fraudulently inflated revenue

The SEC has charged Medly Health Inc.’s and Head of Rx Operations with defrauding investors during a US $170 million fundraising effort. The accused are inflating revenue figures, while Bhatt is alleged to have created fake prescriptions to support these figures. The SEC deems these actions as severe corporate misconduct and reaffirms its focus on preventing deceptive start up fundraising…