SurgiLight terminates J.T. Lin, MD

ORLANDO — The board of directors of SurgiLight terminated the employment of company founder and former board member Jui-Teng Lin, MD, effective July 31. A company news release stated Dr. Lin had “played no decision-making role in the company” since July 2001. SurgiLight returned to profitability earlier this year after successful overseas clinical trial results for its OptiVision infrared laser system for the reversal of presbyopia. The company is seeking U.S. regulatory clearance to begin clinical trials here.

Dr. Lin was indicted by the U.S. Department of Justice in April 2002 on one count of securities fraud and two counts of money laundering, both criminal offenses. He is charged with preparing false and misleading press releases touting SurgiLight as having completed development of lasers that could be used to reverse the effects of presbyopia. The Securities and Exchange Commission filed a civil action suit as well, alleging that Dr. Lin and his wife reaped more than $1.7 million in “ill-gotten gains from manipulating the common stock of SurgiLight.”