The 67-year old, who calls himself an inventor and investor, owned the south-east London football club between 2020 and 2023 and has now been indicted by a federal grand jury in Rhode Island on 15 charges in total.
The charges relate to the period when Sandgaard was chief executive of Zynex between 2017 and 2025. Apparently, he "orchestrated a scheme to fraudulently obtain millions of dollars from government and private healthcare payers and patients" along with chief operating officer Anna Lucsok.
A grand jury has now been set up by a prosecutor to determine whether there is enough evidence to pursue a prosecution and determine whether probable cause exists to believe a crime has been committed.
On 21 July 2023, Sandgaard sold Charlton Athletic to Global Football Partners.
When Sandgaard owned Charlton, the former Premier League club had five different managers as the club remained in League One and reached the "lowest ebb in living memory" according tothe Supporters' Trust.
In his goodbye to the club, Sandgaard claimed that the "journey has indeed been bittersweet, painted with both criticism and appreciation".
