Semler Scientific to Pay $29.75 Million to Settle DOJ Fraud Claims
Semler Scientific has reached a tentative settlement with the U.S. Department of Justice, agreeing to pay $29.75 million to resolve claims related to potential violations of federal anti-fraud laws concerning its QuantaFlo product.
- The DOJ investigation began in 2017 with a civil investigative demand.
- Settlement discussions started in February 2023 after Semler complied with multiple subpoenas.
- The investigation does not involve Semler's bitcoin holdings.
- Semler has entered an agreement with Coinbase to borrow cash and digital assets, using its bitcoin as collateral.
- If the settlement is finalized, proceeds will be used to pay the DOJ.
- The settlement is not yet confirmed; failure to finalize could result in additional charges from the DOJ.
- Semler holds 3,192 bitcoins, valued at approximately $267 million.