{"id":63826,"date":"2018-05-21T00:39:05","date_gmt":"2018-05-21T04:39:05","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=63826"},"modified":"2018-05-23T00:20:06","modified_gmt":"2018-05-23T04:20:06","slug":"sec-charges-three-former-healthcare-executives-with-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2018\/sec-charges-three-former-healthcare-executives-with-fraud.html","title":{"rendered":"SEC Charges Three Former Healthcare Executives With Fraud"},"content":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has announced fraud charges against three former Constellation Healthcare Technologies Inc. executives who falsified financial and other information they provided to a private firm in the course of negotiating the private firm\u2019s acquisition of a majority stake in Constellation. Houston-based Constellation filed for bankruptcy in March, a little more than a year after the January 2017 acquisition.<\/p>\n<p>According to the SEC\u2019s complaint, the executives convinced a private firm to acquire a majority of Constellation\u2019s equity and provided fake information, including financial statements for three fictitious subsidiaries supposedly acquired for more than $62 million. The complaint alleges that the former executives funded the sham acquisitions with stock sales in London and then diverted the proceeds to themselves.  The complaint charges former Constellation chief executive Parmjit (Paul) Parmar, former chief financial officer Sotirios (Sam) Zaharis, and former company secretary Ravi Chivukula.  In September 2017, amid concerns about Constellation\u2019s financial condition, Parmar resigned and Zaharis and Chivukula were put on administrative leave. <\/p>\n<p>\u201cUsing phony balance sheets, doctored bank statements, and other fabrications to conceal the theft of investor monies, which we allege occurred in this case, will not go undetected or unpunished,\u201d said Marc P. Berger, Director of the SEC\u2019s New York Regional Office.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has announced fraud charges against three former Constellation Healthcare Technologies Inc. executives who falsified financial and other information they provided to a private firm in the course of negotiating the private firm\u2019s acquisition of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-63826","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/63826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=63826"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/63826\/revisions"}],"predecessor-version":[{"id":63827,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/63826\/revisions\/63827"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=63826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=63826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=63826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}