One of the biggest crisis to hit New York is the opioid crisis. We have seen that many lives have been lost every day due to this crisis taking place in the city. Also, the Sackler family is blamed the most for creating this opioid crisis due to the Purdue Pharma company that the Sackler family owns. Now, New York attorney general’s office said that they have tracked down various wire transfers from the Sackler family which amount to a $1 Billion. It is suspected that these transfers were done to shield wealth as it faced a raft of litigation over its role in the opioid crisis. Apart from that, the wire transfers included accounts from Swiss Bank as well.
Nearly two dozen states and thousands of municipal governments reached a settlement recently between them and the Sackler family which owns Purdue Pharma, the maker of OxyContin. In a statement, Ms. James said that “While the Sacklers continue to lowball victims and skirt a responsible settlement, we refuse to allow the family to misuse the courts in an effort to shield their financial misconduct,” “Records from one financial institution alone have shown approximately $1 billion in wire transfers between the Sacklers, entities they control, and different financial institutions, including those that have funnelled funds into Swiss bank accounts,”
According to an estimate by Forbes, the Sackler family have a fortune worth $13 Billion while many attorneys believe that the family has a far more hidden fortune that they want to safeguard as cover for the litigation. In a statement, former Purdue board member, said that “This is a cynical attempt by a hostile A.G.’s office to generate defamatory headlines to try to torpedo a mutually beneficial settlement that is supported by so many other states and would result in billions of dollars going to communities and individuals across the country that need help.”