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alexandrabuga replied to the topic Corporate Veil in the forum Business 101 7 years, 8 months ago
Reading this question I thought instantly of Martin Shkreli the 34-year-old chief executive of Turing Pharmaceuticals, who had raised the price of the life-saving drug Daraprim from $13.50 to $750 per pill.
Mr. Shkreli was accused of defrauding investors in two hedge funds he managed by misleading them about losses suffered on its investments, and then shifting money from a biopharmaceutical company, Retrophin, when he was CEO, to pay off the investor claims. In August 2017, a jury found Mr Shkreli guilty of three of eight counts, including securities fraud, in a criminal case brought by US prosecutors. But they cleared him of allegations that he had looted Retrophin to make payments for the hedge funds. The civil suit brought by Retrophin remained pending as of 4 August.
What other cases have come up in pharma/biotech where a CEO has been guilty of fraud?