Ex-Exec Admits Faking Cancer To Duck SEC

Law360, New York (March 11, 2009, 12:00 AM EDT) -- The former head of regulatory affairs at Biopure Corp. has pled guilty to faking terminal colon cancer to thwart U.S. Securities and Exchange Commission litigation alleging the company and its employees lied to investors about its blood substitute.

The ex-executive, Howard Richman, pled guilty to the federal government's charge of obstruction of justice on Wednesday in the U.S. District Court for the District of Massachusetts.

Richman's sentencing hearing is scheduled for June 10.

In a Feb. 17 court filing, the SEC revealed that Richman “has indicated...
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