OxyContin Makers Found To Have Taken $4.1 Billion In Payouts From Purdue Pharma As Opioid Crisis Was Developing

ByAmy Lamareon December 24, 2019inArticles›Billionaire News

OxyContin Makers Found To Have Taken $4.1 Billion In Payouts From Purdue Pharma As Opioid Crisis Was Developing - 1

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The Sackler family has long been accused of siphoning money off company profits to fund their own lives. That money, their critics argue, should have been used to pay for the billions of dollars in damage that OxyContin has caused. Letitia James, the New York attorney general issued subpoenas to 33 financial institutions and investment advisors with connections to the Sacklers in August. She was trying to assess the wealth of the Sackler family.

Celebrity Net Worth estimates that the combined family fortune is worth $14-15 billion. However, a number of state attorney generals believe the family has much more money hidden away. While there are thousands of lawsuits in state and federal court against Purdue, 26 states have also named the Sacklers individually in the lawsuits.

The new report offers new insight into the operations of Purdue but it doesn’t shed any light on the Sacklers wealth or where their cash and assets are hidden. The Sackler family has offered to return $3 billion. They would also be required to give up all ownership of Purdue and would not be appointed to the board of the trust in order to settle the myriad of lawsuits against them by states, counties, cities, and Native American tribes accusing them of hiding the addictive risks of OxyContin while pushing it hard.

  • New York Attorney General Found $1 Billion In Wire Transfers By The Purdue Pharma Sackler Family
  • Purdue Pharma Collapses Under Weight Of OxyContin Lawsuits, Files For Chapter 11 Bankruptcy
  • Even Without Oxycotin Maker Purdue Pharma, The Sackler Family Is Worth Billions
  • Opioid Billionaire Sackler Family On Verge Of Winning Immunity In The Multitude Of Lawsuits Against Their Company Purdue Pharma
  • How The Billionaire Sackler Family Allegedly Moved Their Opioid Money Around To Preserve Fortune In Midst Of Lawsuits
  • Purdue Pharma Reaches Epic Settlement In The OxyContin Lawsuits