Tag Archive for: U.S. Department of Justice

The U.S. Justice Department has opened a criminal investigation into Cassava Sciences Inc. involving whether the biotech company manipulated research results for its experimental Alzheimer’s drug, two people familiar with the inquiry said.

The U.S. Justice Department unveiled a $1.2 billion healthcare fraud crackdown on Wednesday, revealing criminal charges against 36 defendants for alleged fraudulent billing schemes tied to telemedicine, genetic and cardiovascular testing, and equipment.

Ramesh “Sunny” Balwani, Elizabeth Holmes’ former business and romantic partner and former COO of Theranos, was found guilty of all 12 fraud charges brought against him for his role in the Theranos scandal. In 2018, he, along with Holmes, was charged with multiple counts of wire fraud and conspiracy to commit fraud.