Monday, September 10, 2012

SC company guilty of wholesaling $55 million in stolen drugs

SC company guilty of wholesaling $55 million in stolen drugs - FiercePharma Manufacturing:

"Federal authorities have caught up with a drug wholesaler who bought more than $55 million worth of stolen drugs, put them back into the legitimate supply chain, then falsified "drug pedigrees," to try and hide the scheme. The case is another in a series of arrests or convictions as it continues to press on cargo theft and warehouse crimes.

Altec Medical has been sentenced to pay a $2 million fine and forfeit $1 million after it was found buying the illegally obtained drugs, the FDA reports. Federal authorities say when the Easley, SC-based company bought the prescription medications from William D. Rodriguez, it knew he was fencing them from parties that obtained them illegally. Altec has also been placed on a year's probation.

The wholesaler and Rodriguez worked together to get the drugs back into the lawful channels and then cover up the paper trail. Rodriguez, who also has pleaded guilty but has yet to be sentenced, moved the drugs through companies in South Carolina that he controlled, which then sold them to Altec. Altec passed them off to legitimate drug distributors who sold them to pharmacies."

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