New York Attorney General Exposes $1-Billion in Wire Transfers By Sackler Family, Owners of Purdue Pharma, Following a Proposal to Settle

Amid accusations that the Sackler family is moving billions of dollars offshore to protect their wealth, authorities have identified about $1-billion in wire transfers between the owners of pharmaceutical giant Purdue Pharma and Swiss banks. The Sacklers and Purdue Pharma, which makes OxyContin, have fought to limit discovery and subpoena action by the attorney general’s office of New York, which has said: “The Sacklers continue to low ball victims and skirt a responsible settlement. We refuse to allow the family to misuse the courts in an effort to shield their financial misconduct.” -GEG

Authorities have identified about $1 billion in wire transfers between the owners of pharmaceutical giant Purdue Pharma, the entities they control and different financial institutions, New York Attorney General Letitia James said Friday.

The discovery of the wire transfers comes as amid growing allegations by New York and other states that the Sackler family is moving billions of dollars offshore to protect their wealth. It also follows news two days ago of a proposed settlement by Purdue Pharma to thousands of states, counties, cities and tribal governments in their ongoing lawsuit accusing the company of fueling the nation’s opioid epidemic.
 
The New York attorney general’s office is trying to determine how much money the Sacklers have amassed and where it is. Details about the wire transfers, including some that authorities say were funneled through Swiss bank accounts, were released as part of a new court filing by Attorney General James in the ongoing lawsuit.
 
“While the Sacklers continue to lowball victims and skirt a responsible settlement, we refuse to allow the family to misuse the courts in an effort to shield their financial misconduct,” James said in a written statement. “The limited number of documents provided to us so far underscore the necessity for compliance with every subpoena.”
 
Millions of dollars in wire transfers involving Mortimer D.A. Sackler, a former Purdue board member, were mentioned throughout the new document.

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