Drug Wholesaler Altec Fined $2M In Gray Market Conspiracy

Law360, New York (August 13, 2012, 1:21 PM EDT) -- A Florida federal judge on Friday slapped Altec Medical Inc. with a $2 million criminal fine after the South Carolina prescription drug wholesaler pled guilty to charges that it paid $55 million for drugs it knew had been diverted to a gray market.

U.S. District Judge Robert N. Scola Jr. also ordered Altec, which pled guilty to a felony conspiracy charge, to forfeit $1 million. The U.S. Department of Justice had accused Altec of paying its supplier and co-conspirator, William Rodriguez, $55 million for gray market...
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