In a surprising turn of events, Thomas Sandgaard, the former owner of Charlton Athletic football club, has been indicted by a federal grand jury in Rhode Island on 15 charges, including conspiracy to commit healthcare fraud, mail fraud, and securities fraud.
Sandgaard, a 67-year-old Danish-American businessman, owned the south-east London club between 2020 and 2023. During his time as the club’s owner, Charlton struggled, going through five different managers and languishing in League One, which the supporters trust described as the “lowest ebb in living memory”.
The charges against Sandgaard relate to his time as the chief executive of Zynex, a medical device company, between 2017 and 2025. According to the indictment, Sandgaard and the company’s chief operating officer, Anna Luczok, “orchestrated a scheme to fraudulently obtain millions of dollars from government and private healthcare payers and patients”.
The US Attorney’s Office in Rhode Island has alleged that when financial reporters raised questions about Zynex’s business practices, Sandgaard retaliated by sending used female underwear to a reporter’s spouse at their home, along with a thank-you card detailing the reporter’s alleged “illicit behavior”. He also reportedly signed reporters up for therapy sessions, listing conditions such as erectile dysfunction.
In a farewell message to Charlton supporters, Sandgaard acknowledged that the “journey has indeed been bittersweet, painted with both criticism and appreciation”. The club has since been taken over by SE7 Partners, a group of Charlton fans.
The indictment and the charges against Sandgaard serve as a stark reminder of the importance of transparency and accountability in the world of business and sports ownership. As the case unfolds, it will be crucial to follow the legal proceedings and understand the full extent of the alleged fraudulent activities.
