"Former Cano Health CEO Marlow Hernandez is facing a jury trial this week over allegations of fraud and corruption. The trial, set to begin on Monday, will examine claims that Hernandez used his position to illicitly enrich himself and his family - actions the plaintiffs say helped drive Cano into bankruptcy. This will be the first time Hernandez has faced trial for his alleged misconduct at Cano, which he founded in 2009."
"Hernandez told Onsite that Cano was expanding its value-based care offerings to include dental services and that he wanted a partner to help scale those operations nationally, said Joe Mamounas, one of the attorneys representing the plaintiffs. The plaintiffs allege that Hernandez lied about key facts, including Cano's financial health, internal approval of the contracts and compliance with healthcare regulations."
Marlow Hernandez, founder and former CEO of Cano Health, faces a jury trial on allegations of fraud and corruption for actions plaintiffs say enriched him and his family and contributed to Cano’s bankruptcy. Cano went public in 2021 via a $4.4 billion SPAC and filed for Chapter 11 last year after governance turmoil and an 80% stock decline. Plaintiffs Onsite Dental and CD Support seek over $72 million, alleging fraudulent misrepresentations that induced more than $30 million in deals. Allegations include false claims about Cano’s financial health, internal contract approvals, regulatory compliance, and promised dental partnerships with guaranteed fees.
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