The FBI has arrested two former executives of Zynex Inc., accusing them of conspiring to commit health care fraud that allegedly defrauded hundreds of millions of dollars from patients and insurance programs between 2017 and 2025.
Special agents with the FBI Boston and Denver field offices arrested Thomas Sandgaard, the company’s former CEO, and Anna Lucsok, its former COO. The indictment, unsealed Wednesday by the U.S. Attorney’s Office for the District of Rhode Island, alleges that Sandgaard and Lucsok collected over $873 million through fraudulent billing practices.
“The case represents a troubling abuse of patients seeking care, as well as the federal health-care benefit system,” said Ted Docks, special agent in charge of FBI Boston Division. “This company operated with a single-minded focus on their own financial enrichment, defrauding the government and insurance companies out of hundreds of millions of dollars while exploiting vulnerable individuals.”
According to the indictment, Sandgaard and Lucsok allegedly shipped excessive volumes of medical supplies—up to 128 electrode pairs per patient each month—to patients who had already been told by the company to stop receiving such items. The scheme also involved inflating Zynex’s financial reporting to drive up its stock price while hiding the fraudulent activity from investors.
Patients described severe consequences, including being charged thousands of dollars for supplies they did not need and facing unaffordable bills that threatened their survival on fixed incomes. One patient wrote: “I live on $1,100.00 dollars a month and cannot afford much.”
The indictment further states that the company allegedly hired someone to disrupt reporters investigating the fraud, including sending used women’s underwear addressed to reporters’ spouses with notes accusing them of “illicit behavior” and signing up reporters for therapy sessions listing conditions such as erectile dysfunction.
Sandgaard, 67, is a Colorado resident and dual U.S. and Danish citizen. Lucsok, 39, is also a Colorado resident with dual citizenship in the U.S. and Ukraine. They face charges including conspiracy to commit health care fraud, mail fraud, securities fraud, nine counts of health care fraud, two counts of mail fraud, and three counts of aggravated identity theft.
The government has seized assets including properties in Colorado and Florida, several bank accounts, a Gulfstream G-IV aircraft, and multiple vehicles. Zynex, which has earned awards such as the BBB Torch Award for Marketplace Trust, did not respond to requests for comment.
U.S. Attorney Charles Calenda stated: “This case represents a troubling abuse of patients seeking care, as well as the federal health care benefit system. The defendants’ conduct undermined programs intended to serve patients in need.”
