Civil PlaintiffOpioids

New York Subpoenas Banks and Financial Advisers for Sackler Records

The New York state attorney general has begun issuing subpoenas to 33 financial institutions and investment advisers with ties to the Sackler family, part of an aggressive effort to track billions of dollars that prosecutors claim the family siphoned out of Purdue Pharma to hide profits gained from the company’s opioid painkillers.

The recipients of the subpoenas ranged from major Wall Street firms to obscure offshore holding companies as well as two family investment offices and four individual advisers, according to court documents. The action is part of a broad attempt to hold individual Sacklers, who are owners of Purdue Pharma, accountable in some measure for unleashing the opioid crisis that has killed more than 200,000 Americans over the past two decades.

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