'Extraordinary' $100M Fraud Gets Ex-Pharma CEO 30 Years

Law360, Miami (July 2, 2019, 10:10 PM EDT) -- A former medical device company executive will likely spend the rest of his life in prison after receiving a 30-year sentence Tuesday in Florida federal court for orchestrating a $100 million loan fraud scheme that federal prosecutors said triggered the collapse of one of Puerto Rico's largest banks.

Attorneys for former Inyx Inc. CEO Jack Kachkar asked for a 20-year prison term at the end of his two-day sentencing hearing in Miami, leaning on his serious medical issues and the alleged recklessness by management in the downfall of Westernbank Puerto Rico. But U.S. Senior District Judge Donald L. Graham said that,...

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