Fraud-accused Danish businessman allowed to leave home with ankle monitor

Danish businessman Thomas Sandgaard, currently facing fraud charges in the United States, has been granted more lenient release conditions. A judge approved his request to leave his home in Colorado without needing prior court permission, a significant improvement in his mental state, he stated.

Sandgaard, the founder of the pharmaceutical company Zynex, was indicted earlier this year on charges of fraud spanning from 2017 to 2025. He had previously surrendered to the FBI in January after his home was surrounded. He was later released on bail.

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The judge has approved the request, so it does provide a clear improvement in the mental state, that one can get around like other people.

While Zynex itself reached a settlement with U.S. prosecutors in February, admitting to healthcare and securities fraud and agreeing to pay a fine between $5 million and $12.5 million, Sandgaard continues to face individual charges. He and former director Anna Lucsok are accused of orchestrating a scheme to defraud millions of dollars from government and private healthcare payers.

Sandgaard, who became a millionaire after selling part of Zynex in 2019, has maintained his innocence. He previously told DR, "I have built my company from the ground up honestly and fairly. I can say with a clear conscience that I have done nothing wrong." His past business ventures include ownership of the English football club Charlton Athletic and the Danish ice hockey club Odense Bulldogs.

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I have built my company from the ground up honestly and fairly. I can say with a clear conscience that I have done nothing wrong.