Ex-Pharma Holdings Execs Shell Out $2M To End Fraud Suit

Law360, New York (August 30, 2011, 4:05 PM EDT) -- Two former pharmaceutical executives agreed to pay more than $2 million on Monday to settle allegations in Florida that Pharma Holdings Inc. and its principals fraudulently sold $5 million of Pharma Holdings stock to at least 80 European investors.

In a final judgment, U.S. District Judge Kenneth A. Marra ordered former Pharma Holdings CEO Edward Klapp IV and his father, Chief Financial Officer Edward Klapp Jr., to pay $2,038,746 in fines and disgorgements and barred both men from acting as an officer or a director of...
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Case Information

Case Title

Securities and Exchange Commission v. Pharma Holdings, Inc. et al

Case Number



Florida Southern

Nature of Suit



Kenneth A. Marra

Date Filed

December 22, 2010

Government Agencies

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