Money Well Spent
Jun 27th, 2007 at 8:51 pm by Susie
All that money given by Big Pharma PACs to Bush and the GOP?
In June 2005, Bristol Myers Squibb entered into a deferred prosecution agreement with the U.S. Attorney in New Jersey.
The U.S. Attorney, Christopher Christie, filed criminal charges against the company, but promised not to prosecute those charges for various fraudulent financial practices, including “channel stuffing,” on the condition that the company change its “corrupted corporate culture” and adhere to the terms of the deferred prosecution agreement.
That agreement expired earlier this month.
During the two years of the agreement, did the company adhere to its terms?
It did not.
Christie determined that the company had in fact violated the agreement.
And under paragraph 36 of the deferred prosecution agreement, if the company violates the agreement, then the company “shall” be subject to criminal prosecution.
In other words, if the agreement was breached, the agreement not to prosecute the company – for channel stuffing and other fraudulent financial practices – was off.
As a result of the breach of the deferred prosecution agreement, was Bristol Myers Squibb criminally prosecuted for the underlying crimes?
It was not.
Read more.
