Novo Nordisk Agrees to Pay $58 Million for Failure to Comply with FDA-Mandated Risk Program

Payments Resolve Allegations Highlighted in DOJ Civil Complaint and Recently Unsealed Whistleblower Actions

Pharmaceutical Manufacturer Novo Nordisk Inc. will pay $58.65 million to resolve allegations that the company failed to comply with the FDA-mandated Risk Evaluation and Mitigation Strategy (REMS) for its Type II diabetes medication Victoza, the Justice Department announced today. The resolution includes disgorgement of $12.15 million for alleged violations of the Federal Food, Drug, and Cosmetic Act (FDCA) from 2010 to 2012 and a payment of $46.5 million for alleged violations of the False Claims Act (FCA) from 2010 to 2014. read more »

Ring leader of medical kickback scheme sentenced to 8 years in prison

The ring leader of a massive, multimillion-dollar medical kickback scheme was sentenced Tuesday to eight years in prison for his role in bribing doctors to get patient referrals to the nexus of medical imaging centers he owned throughout the state.

Rehan "Ray" Zuberi, 48, of Boonton, was sentenced by Superior Court Judge Salem Vincent Ahto in Morristown two years after he and his wife pleaded guilty to charges of money laundering and conspiracy to commit commercial bribery.

At that time, the couple admitted to providing thousands of kickbacks -- ranging from $50 to $150 -- to doctors to refer patients to their Diagnostic Imaging Affiliates (DIA) centers for tests. read more »

1MDB Stolen Funds Witnesses Are Scared to Talk, FBI Says

Possible witnesses to the alleged looting of billions of dollars from 1Malaysia Development Bhd are too scared to talk to U.S. investigators because they fear retaliation, according to the Federal Bureau of Investigation.

Some people in "certain foreign countries" already assisting the criminal probe are concerned for their safety, while others say it’s too dangerous to cooperate, according to an FBI request to keep the names of its informants secret from the alleged masterminds of the 1MDB conspiracy.

Individuals who would otherwise be willing to provide information have told the government they’re worried about putting “the safety and security of both themselves and their families at serious risk," the FBI said Tuesday in a federal court filing in Los Angeles. read more »

Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal

Digital currency falls as much as 11 percent, most since July

China PBOC says all ICOs must be stopped and refunds provided

Bitcoin tumbled the most since July after China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. read more »