The family that owns OxyContin maker Purdue Pharma used Swiss bank accounts to conceal the transfer of millions of dollars from the company to themselves, New York state's attorney general contends.
The family that owns OxyContin maker Purdue Pharma used Swiss bank accounts to conceal the transfer of millions of dollars from the company to themselves, New York state’s attorney general contends in court papers filed Friday.
New York — asking a judge to enforce subpoenas of companies; of banks; and of advisors to Purdue and its owners, the Sackler family — said it has already documented $1 billion in transfers between those parties. Those transactions include millions of dollars shifted from a Purdue parent company to former board member Mortimer D.A. Sackler, prosecutors say in the papers. They allege that Sackler then redirected substantial amounts to shell companies that own family homes in Manhattan and the Hamptons.
Representatives for the branch of the family that includes Mortimer D.A. Sackler did not immediately respond to requests for comment.The filing, made in a New York court, follows announcements this week that New York and other states decided to reject a tentative settlement with Stamford, Conn.-based Purdue. The states argued the settlement would not do enough to make amends for the company’s and family’s alleged roles in flooding U.S. communities with prescription painkillers.
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