Home News Purdue Pharma owners hid millions in Swiss banks: NY AG

Purdue Pharma owners hid millions in Swiss banks: NY AG

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NEW YORK POST:

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, banks and advisers to Purdue Pharma and its owners, the Sackler family — said it has already documented $1 billion in transfers between those parties.

Those transactions include millions shifted from a Purdue Pharma parent company to former board member Mortimer D.A. Sackler, prosecutors said in the papers. Sackler then redirected substantial amounts to shell companies that own family homes in Manhattan and the Hamptons, prosecutors say.

Representatives for the branch of the family that includes Mortimer D.A. Sackler did not immediately respond to requests for comment.

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