New York finds $1bn in hidden Sackler family wire transfers
NY state Attorney General Letitia James says owners of Oxycontin-producer Purdue Pharma made off with opioid 'proceeds'.
The billionaire family that owns Oxycontin-maker Purdue Pharma LP made about $1 billion in transfers among themselves and their shell companies while they were "draining Purdue of its opioids proceeds," New York Attorney General Letitia James told a judge in a letter.
The transfers, some through Swiss bank accounts, were revealed in documents provided by an unspecified financial institution in response to a subpoena - one of at least 10 banks facing demands for information in New York's lawsuit against Purdue and the Sackler family, the state said in a court filing Friday.
James said she wrote the letter to show the judge the i...