A federal jury this week in Maryland convicted two ex-CEOs of a Washington biotech company for their role in a multi-million dollar securities fraud scheme related to HIV and COVID-19 drugs.

The Business Journals

United States

Former Portland area biotech CEO is convicted in securities fraud scheme

A federal jury in Maryland convicted Nader Pourhassan and former business partner Kazem Kazempour.

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Washington

District of Columbia

2 ex-CEOs of Washington biotech company face 20 years after fraud convictions

A federal jury Monday convicted the former chief executive for local biotechnology company CytoDyn, along with the head of the company’s regulatory agent to the U.S. Food and Drug Administration, for a scheme to defraud investors. Read more...

The Columbian

Vancouver

Clark County

Former CytoDyn chief executive guilty in plot to defraud investors

PORTLAND, Ore. (KOIN) – Two former biotechnology executives were convicted by a federal jury in Maryland on Monday after misleading investors about a drug in order to inflate their stock price, the United States Department of Justice announced. According to court documents, 61-year-old Nader Pourhassan, of Lake Oswego and 71-year-old Kazem Kazempour of Potomac, Maryland deceived investors about leronlimab, a medication developed by Vancouver, Wa…

KOIN 6

Nexstar Media Group

Portland

Multnomah County

Oregon

CEOs convicted for lying about HIV, COVID treatment

Two CEOs Convicted in Fraud Scheme Involving HIV and COVID-19 Drug Development

KGLO News

Two Biotech CEOs Face Prison Time After Conviction in $300M Investor Fraud Scheme

A federal jury in Maryland has found two biotech executives guilty of securities fraud for deceiving investors about the development of an investigational drug by CytoDyn Inc., a biotechnology company based in Vancouver, Washington. The verdict was delivered on December 10, 2024.Nader Pourhassan, aged 61 from Lake Oswego, Oregon, and Kazem Kazempour, aged 71 from Potomac, Maryland, were convicted for their roles in a scheme that misled investors…

Legal Newsline

Biotech executives convicted for defrauding investors in drug development scheme

Two Biotech CEOs Convicted in Securities Fraud Scheme

Utica Phoenix

BALTIMORE, MD—Two CEOs were convicted by a federal jury in Maryland for a scheme to defraud investors about a drug being developed to treat HIV and COVID-19, according to the U.S. Department of Justice. Nader Pourhassan, 61, of Lake Oswego, Oregon, and Kazem Kazempour, 71, of Potomac, Maryland, were found guilty of the scheme involving CytoDyn Inc., a publicly traded […]

2 ex-CEOs of Washington biotech company face 20 years after fraud convictions

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