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Billionaire founder of Insys to plead not guilty to opioid bribe scheme
Source: Reuters
#HEALTH NEWS NOVEMBER 16, 2017 / 6:19 AM / UPDATED 5 HOURS AGO
Billionaire founder of Insys to plead not guilty to opioid bribe scheme
Nate Raymond
3 MIN READ
John Kapoor, who stepped down as Insys’ chief executive officer and chairman in January but remains the majority shareholder, was charged last month with engaging in conspiracies to commit racketeering, mail fraud and wire fraud.
Brian Kelly, a lawyer for Kapoor, said on Monday that his client would plead not guilty. In court papers filed ahead of the hearing, lawyers for Kapoor, 74, called the allegations against the billionaire “thin, vague and conclusory.”
Kapoor’s arrest in Phoenix on Oct. 26 came as U.S. authorities have been fighting a national opioid addiction epidemic that the U.S. Centers for Disease Control and Prevention linked to more than 33,000 deaths in 2015, the latest year for which statistics are available.
The charges marked a major escalation of probes centered on Chandler, Arizona-based Insys’ flagship product Subsys, an under-the-tongue spray that contains fentanyl, an addictive synthetic opioid.
-snip-
Billionaire founder of Insys to plead not guilty to opioid bribe scheme
Nate Raymond
3 MIN READ
John Kapoor, who stepped down as Insys’ chief executive officer and chairman in January but remains the majority shareholder, was charged last month with engaging in conspiracies to commit racketeering, mail fraud and wire fraud.
Brian Kelly, a lawyer for Kapoor, said on Monday that his client would plead not guilty. In court papers filed ahead of the hearing, lawyers for Kapoor, 74, called the allegations against the billionaire “thin, vague and conclusory.”
Kapoor’s arrest in Phoenix on Oct. 26 came as U.S. authorities have been fighting a national opioid addiction epidemic that the U.S. Centers for Disease Control and Prevention linked to more than 33,000 deaths in 2015, the latest year for which statistics are available.
The charges marked a major escalation of probes centered on Chandler, Arizona-based Insys’ flagship product Subsys, an under-the-tongue spray that contains fentanyl, an addictive synthetic opioid.
-snip-
Read more: http://www.reuters.com/article/us-insys-opioids/billionaire-founder-of-insys-to-plead-not-guilty-to-opioid-bribe-scheme-idUSKBN1DG1GF
