United States Securities and Exchange Commission v. Muraca et al

  1. April 28, 2020

    Biotech Exec's Capitalization Quarrel Panned In 2nd Circ.

    A Second Circuit panel appeared unmoved Tuesday by an incarcerated Massachusetts biotech executive's contention that his jury was improperly deprived of legal instructions on the term "capitalization," with the judges saying the term appears factual, not legal, in nature.

  2. December 06, 2019

    SEC Scores Early Win In Mass. Biotech CEO Fraud Suit

    A Massachusetts federal judge has awarded the U.S. Securities and Exchange Commission an early victory in its suit against two biotech companies and former CEO Patrick Muraca over his misappropriation of investor funds, ruling that Muraca's conviction in a parallel criminal case supports the SEC's civil claims.

  3. July 23, 2019

    Mass. Biotech Co. Liable For CEO Duping Investors, SEC Says

    A Massachusetts cancer diagnostics company whose founder was sentenced to 27 months in prison for squandering most of the $1.2 million he raised from investors should be held liable for his actions, the U.S. Securities and Exchange Commission argued Tuesday in Boston federal court.

  4. July 30, 2018

    Ex-Biotech CEO A 'Total Moron' But No Crook, NY Jury Hears

    A former biotech CEO from Massachusetts who once ran a $48 million diagnostics company went before a Manhattan federal jury Monday to try to sink charges of stealing from investors, arguing his efforts in the fight against cancer were real but he was a "total moron" for commingling funds.

  5. April 27, 2018

    SEC Can Monitor Mass. Medical Co. Amid Fraud Charges

    A Massachusetts federal judge declined Friday to unfreeze the assets of a cancer-diagnostics company and ordered the U.S. Securities and Exchange Commission to continue monitoring the business' transactions while its founder faces criminal charges that he lied to investors and used their money to pay his own bills and support his fiancee's restaurant.

  6. August 01, 2017

    Medical Co. Owner Charged With Diverting Investor Funds

    The owner of a medical company and a pharmaceutical company solicited more than $1 million from investors to expand those businesses but instead used the money for personal expenses and to fund his fiancée's restaurant, New York federal prosecutors charged Monday.