'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,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Government Agencies

Judge Analytics