Biotech Values

[ghmm]

Ex-Biopure exec to plead guilty to faking cancer
Former Biopure executive to plead guilty to lying about terminal cancer to avoid SEC complaint

I wouldn't put this on the level of the Pharmacist who diluted Chemo Drugs but its certainly not too ethical in my book.

http://finance.yahoo.com/news/ExBiopure-exec-to-plead-apf-14607507.html



* Denise Lavoie, AP Legal Affairs Writer
* Wednesday March 11, 2009, 2:09 pm EDT


BOSTON (AP) -- A former executive of Biopure Corp. is expected to plead guilty to an obstruction of justice charge for pretending he had terminal cancer to dodge a federal lawsuit filed by securities regulators.

Howard Richman, a former vice president at Biopure, originally pleaded not guilty to the charge in October. Court documents say he plans to change the plea Wednesday.

The U.S. Securities and Exchange Commission sued Biopure, Richman and three other executives in 2005. It alleged the drug developer had misled investors over the prospects of winning approval for an experimental blood substitute.

The charges were effectively dismissed against Richman in July 2007 after he claimed to be dying of colon cancer.

If convicted, he faces up to 10 years in prison.