Sep 13, 2019
Sackler Family Transferred About $1 Billion, N.Y. Tells Judge
Bloomberg News
,(Bloomberg) -- The billionaire family that owns Oxycontin-maker Purdue Pharma LP made about $1 billion in transfers among themselves and their shell companies while they were “draining Purdue of its opioids proceeds,” New York Attorney General Letitia James told a judge in a letter.
The transfers were revealed in documents provided by an unspecified bank in response to a subpoena -- one of at least 10 financial institutions facing demands for information in New York’s lawsuit against Purdue and the Sackler family, the state said in a court filing Friday.
To contact the reporter on this story: Erik Larson in New York at elarson4@bloomberg.net
To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider
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