Oxycontin Maker Files for Bankruptcy After Funneling Billions Into Accounts

Oxycontin Maker Files for Bankruptcy After Funneling Billions Into Accounts

(TT) — The Sacklers, the notorious family that owns Purdue Pharma, the company responsible for the controversial opiate Oxycontin, is accused of transferring over $1 billion to offshore accounts, in an attempt to hide their wealth, amid a flurry of lawsuits related to the drug.

The New York’s attorney general filed a complaint last week, citing evidence that the Sackler family made numerous large transfers to various offshore accounts.

Even more money, possibly as much as $4 billion was transferred into domestic accounts in the past several years. This was money that was clearly drained from the company in a panic, but it was not something that they were trying to hide. However, it was a different story with the money transferred to offshore accounts.

via themindunleashed Oxycontin Maker Files for Bankruptcy After Funneling Billions Into Accounts