Amritsar-Born US Billionaire Arrested On Racketeering Charges

[TampaChinnodu]

Amritsar-Born US Billionaire Arrested On Racketeering Charges
John Kapoor, 74, stepped down as CEO of Insys in January
WASHINGTON:  An Indian-American billionaire founder of a pharmaceutical company was arrested today in the US for allegedly leading a nationwide conspiracy to bribe doctors to prescribe a powerful opioid to patients who don't need it.

John Kapoor, 74, was taken into custody in Phoenix, Arizona. Mr Kapoor is the founder and former CEO of the pharmaceutical company Insys Therapeutics. He faces charges including racketeering, conspiracy and fraud, CBS News reported.

Mr Kapoor, who was born in Amritsar, is the most significant pharmaceutical executive to be criminally charged in response to the nationwide opioid crisis.

Brian Kelly, an attorney for Mr Kapoor, said his client "is innocent of these charges and intends to fight the charges vigorously."

Mr Kapoor stepped down as CEO of Insys in January but still serves on its board. The company makes a spray version of fentanyl, a highly addictive opioid intended only for cancer patients.

Authorities allege Insys marketed the drug as part of a scheme to get non-cancer doctors to prescribe it. Numerous physicians were allegedly paid bribes by the company to push the painkilling drug.

Mr Kapoor is due to appear in US District Court in Phoenix.

Last December, six other Insys executives were indicted on federal charges in Boston in connection with the alleged scheme to bribe doctors to unnecessarily prescribe the painkilling drug.

[TampaChinnodu]

Federal agents arrested the founder of a major drug company in an early-morning raid Thursday on charges stemming from an alleged scheme to get doctors to illegally prescribe a powerful opioid to patients who don't need it.

John Kapoor, 74, was taken into custody in Phoenix, Arizona. Kapoor is the billionaire founder and former CEO of the pharmaceutical company Insys Therapeutics. He faces charges including racketeering, conspiracy, bribery and fraud.

John Kapoor, founder and former CEO of Insys Therapeutics

INSYS

Kapoor is the most significant pharmaceutical executive to be criminally charged in response to the nationwide opioid crisis.

Brian Kelly, an attorney for Kapoor, said his client "is innocent of these charges and intends to fight the charges vigorously."

Kapoor stepped down as CEO of Insys in January but still serves on its board. The company makes a spray version of fentanyl, a highly addictive opioid intended only for cancer patients.

Authorities allege Insys marketed the drug as part of a scheme to get non-cancer doctors to prescribe it. Numerous physicians were allegedly paid bribes by the company to push the painkilling drug.

CBS News correspondent Jim Axelrod reports Insys made 18,000 payments to doctors in 2016 that totaled more than $2 million. CBS News has identified headache doctors, back pain specialists and even a psychiatrist who received thousands of dollars to promote the drug last year.

Kapoor is due to appear in U.S. District Court in Phoenix later Thursday.

Last December, six other Insys executives were indicted on federal charges in Boston in connection with the alleged scheme to bribe doctors to unnecessarily prescribe the painkilling drug.

[TampaChinnodu]

millions earn sesthu kooda assalu doctors ki inka kakkurthi enduko. patient lives tho aadukuntaaru. jail lo veyyali naa kodukulani.

[Idassamed]

11 minutes ago, TampaChinnodu said:

millions earn sesthu kooda assalu doctors ki inka kakkurthi enduko. patient lives tho aadukuntaaru. jail lo veyyali naa kodukulani.

Greed bro anthe

[Detriotlions]

Prescription opiods is big market

I have seen people who get them from their insurance and sell them outside for5-10$ per pill