Canopy Financial, a vendor of software to help employers, banks and consumers manage health savings accounts, has filed for bankruptcy protection amid a FBI investigation into alleged fraudulent bookkeeping and theft. Jeremy Blackburn has resigned as president and has been charged with filing fraudulent financial documents, according to Inc. magazine and numerous other published reports.

Blackburn also is charged with pocketing $2 million in investor funds for personal use, the Associated Press reports. Vikram Kashyap, CEO of the San Francisco-based company has resigned but remains board chair and says he had no knowledge of wrongdoing. Anthony Banas, chief technology officer has been placed on administrative leave.

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