Stephen Baird, former CEO of dental device company S-Ray, is wanted for failure to appear for sentencing.
Mr. Baird made false statements about S-Ray's product development and misled investors by falsely claiming that the company had received FDA authorization to market a dental device, according to an Oct. 25 news release from the Justice Department.
In May, Mr. Baird pleaded guilty to wire fraud and participating in an investor fraud scheme that began in 2012 and defrauded about 200 investors of $10.75 million.
Rather than using the funds to bring a product to market, Mr. Baird spent about $5.7 million of the investment on his and his family's personal expenses.
By failing to appear for sentencing, Mr. Baird may face additional prison time for violating his appearance bond.
Judge Richard Jones of the U.S. District Court for the Western District of Washington issued a warrant for Mr. Baird's arrest, the release said.