A federal grand jury indicted the chief executive of a San Rafael biotech company on charges of wire fraud and money laundering.

Lawrence Gerrans, a San Anselmo resident, could face more than 20 years in prison and fines of $500,000, according to the U.S. Attorney’s Office in San Francisco.

Gerrans, who uses the name Larry, is the head of Sanovas Inc., a company that specializes in miniature medical devices that perform tasks such as internal imaging or tumor extractions. The company, founded in 2009, is based on Kerner Boulevard in east San Rafael.

Gerrans is also the owner of Halo Management Group LLC, a business entity based at his five-bedroom home in the Sleepy Hollow neighborhood.

Federal prosecutors announced the indictment Friday. The indictment alleges that Gerrans siphoned large amounts of money from Sanovas from April 2013 until at least May 2015.

The prosecution alleges that Gerrans withdrew $500,000 from his retirement account and used it for “personal expenses including vacations, jewelry and spa treatments.” Then he allegedly sought reimbursement through deferred compensation from the Sanovas board by claiming he used the money for the business.

The prosecution also alleges that Gerrans defrauded the company for consulting work by Halo Management Group that was never actually performed.

Lastly, the prosecution says that Gerrans created a Reno-based shell company called Hartford Legend Capital Enterprises. He allegedly used it to receive money from Sanovas and Halo to “facilitate” the purchase of his $2.6 million home in San Anselmo, the government said.

Gerrans is scheduled to make his initial court appearance on July 29. He could not be reached for comment Saturday.