December 20, 2019

Sackler Family Sends Billions of Opioid Profits to Overseas Accounts

According to the Washington Post, court documents filed by Purdue Pharma in U.S. Bankruptcy Court on December 15 indicated that the Sackler family “transferred $1.36 billion to overseas accounts and affiliated companies after 2008, part of $10.3 billion in total profits distributed out of the company.” State and local governments want to know what happened to the many billions taken out of the company. Some state Attorneys General allege that the transfers should amount to fraudulent conveyance, thus subject to recovery in bankruptcy.