Scammer Samuel D. Waksal
|Samuel D. Waksal
|whether Dead or Alive:
|Scientist, biotechnology executive
|Criminal / Fraud / Scam Charges:
|fraud, conspiracy, perjury
|Criminal / Fraud / Scam Penalty:
|87 months imprisonment
|Founder of ImClone Systems and Kadmon Pharmaceuticals
Samuel D.Waksal is an American fraudster and the former CEO of ImClone, a Pharmaceutical company which produces drugs for cancer. When one of his company's cancer drugs didn't get approved by the Food and Drug Administration of America, he involved in insider trading in order to keep his company alive. His insider trading collapsed when the information leaked more than needed.
He was convicted of bank fraud, insider trading, obstruction of justice and wire fraud of $1.2 million for eviction of taxes. He pleaded guilty in front of the jury and was sentenced to seven years and four months in prison in the year 2003. He was later released and his drug company was eventually bought during his prison sentence.