The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York's attorney general contends in court papers filed Friday
NEW YORK — The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York's attorney general contends in court papers filed Friday.
The transfers bolster allegations by New York and other states that the Sacklers worked to shield their wealth in recent years because of mounting worries about legal threats. They point to $20 million shifted from a Purdue parent company to Sackler, who then redirected substantial amounts to shell companies that own family homes in Manhattan and the Hamptons. Another $64 million in transfers to Sackler came from a previously unknown family trust, using a Swiss account, prosecutors said in their filing.
A spokesperson for Mortimer D.A. Sackler called the attorney general's contention an attempt to"torpedo a mutually beneficial settlement that is supported by so many other states and would result in billions of dollars going to communities and individuals across the country that need help."As part of the settlement, Purdue is likely to soon file for bankruptcy protection.
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