This article was originally posted on January 30, 2017.
Anu Saad had always dreamed of being a scientist. After completing her Ph.D., she headed to Cornell Medical College as a postdoctoral fellow, and then joined the faculty as an Associate Professor. Although she loved academia, in 1990, Saad decided to join a small startup, which was focused on optimizing cancer diagnosis for improved treatment outcomes. Excited by the possibility that her work could change the face of cancer treatment, she joined the company as a research assistant.
Saad stayed on board for 13 years, rising quickly through the ranks to CEO, and successfully taking the company public. She was pleased that her role was still largely science-oriented, with some business activities that included speaking to investors and analysts. Saad was interviewed by the New York Times, Fortune, and Forbes, and appeared often on television and radio regarding her work.
In 2003, Saad, who was by then the mother of two young daughters (the happy results of extensive fertility treatments), was notified by the Board of Directors that another executive in the company had brought up to them some issues with her reimbursed expenses. Saad explained to the Board that the items in question were, according to her, legitimate perks and expenses related to her role as CEO and the busy bi-coastal life required by her position. However, Saad did admit that, on occasion, instead of submitting reimbursable expenses, she would charge other expenses on the corporate card to compensate for the money she had spent out of pocket. Saad highlighted the fact that her actions were the result of an overly informal environment in the company, and her expenses were in public view and were examined by the CFO and Controller. Having given many years of her life to nurturing and growing the company, Saad never intended to take anything illegally or unfairly from a company she loved. However, in light of the accusations, and with a one-month old at home, Saad made the difficult decision to resign from the company.
In 2005, two years after Saad left the company for a life away from the business world, several senior executives at her former company were charged with financial fraud regarding the company’s revenue. Saad was shocked to find out that she was included in that charge. Months later, she was relieved when, the US Attorneys in the Southern District of New York dropped all the major charges of financial fraud against her, clearing her of any connection to the financial manipulation at the company.
While the major charges were dropped, two charges remained: one related to the reimbursed expenses and the other that as CEO, she was responsible for having proper financial controls in place. As it related to the expenses, the issue was not the expenses themselves but rather that they had not been included in the company’s filings with the SEC. As for the financial controls, the prosecutors argued that even though Saad was not a financial person, as CEO, she was responsible for any financial filings that the company made. Saad pleaded guilty to both counts. While prosecutors had asked for a sentence of 18-24 months, the judge was swayed by the “extraordinary” set of letters that were submitted by Saad’s family members, colleagues, and patients that spoke to her character, and he sentenced her to three months at a federal camp close to her Los Angeles home.
The press was not as forgiving as the judge. The media coverage of Saad’s case was fraught with inaccuracies, blaming her for fraud despite the dropped charges. Even the press releases by the prosecutors focused on the expenses themselves rather than on the fact that the charges related to the federal filings. After completing her sentence, Saad has decided against returning to the business world and has instead been focused on raising her children, nursing her father through his cancer treatments, volunteering for various causes.
Furthermore, given her personal and work experience with cancer, Saad finds herself to be uniquely situated to help others navigate the complex maze of cancer diagnosis and treatment. She is adept at analyzing medical reports, finding the right doctor and treatment option, and supporting patients who have received a diagnosis. As such, she is lending her hand pro bono to anyone with cancer who can benefit from her background and expertise. Though she once played a very public role in the field of fighting cancer, Saad’s story has helped her to understand that her true calling, and the path to her own healing, is to help others on their journey through cancer.