New York Uncovers $1 Billion in Sackler Family Wire Transfers

NOTE:  In the “trust corporate American to do the right thing file, we’re passing along this article:

In a court filing, the state attorney general’s office says that it has found new account transfers by members of the family that owns Purdue Pharma, the maker of opioids.

The New York attorney general’s office said on Friday that it had tracked about $1 billion in wire transfers by the Sackler family, including through Swiss bank accounts, suggesting that the family tried to shield wealth as it faced a raft of litigation over its role in the opioid crisis.

Earlier this week, thousands of municipal governments and nearly two dozen states tentatively reached a settlement with the Sackler family and the company it owns, Purdue Pharma, maker of OxyContin. It was unclear if the new disclosure would change the thinking of any of the parties that agreed to the settlement.

The attorneys general of a majority of states, including New York and Massachusetts, have already balked at the proposed deal, contending that the Sackler family has siphoned off company profits that should be used to pay for the billions of dollars in damage caused by opioids.

View the complete September 13 article by Danny Hakim on The New York Times website here.