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BOLAR FORMER EXEC VP RIVERS SENTENCED TO FOUR YEARS

Executive Summary

BOLAR FORMER EXEC VP RIVERS SENTENCED TO FOUR YEARS imprisonment without parole and fined $1 mil. on July 10 by Baltimore federal court Judge John Hargrove for submitting false data to FDA and obstructing the agency's investigation of the generic drug firm. Rivers is the first of eight former Bolar execs to be sentenced. Former company president Robert Shulman was also scheduled to be sentenced on July 10; that has been delayed to Sept. 25. Rivers, who told the court that he was "very sorry" for what he had done, was ordered by Hargrove to report to federal prison on Sept. 14. Rivers was indicted by a grand jury on Oct. 10, 1991, and charged with one count of conspiracy, six counts of making false statements to FDA and three counts of obstructing an agency investigation. Following an initial not guilty plea, Rivers later changed his plea to guilty to a lesser charge of two counts of making false statements to FDA and one count of obstructing the agency's investigation ("The Pink Sheet" April 20, T&G-13). Maryland Assistant U.S. Attorney Gary Jordan, who urged Hargrove to impose the full four-year sentence on Rivers, called the "misconduct at Bolar...the most egregious of any that we have uncovered in the generic drug investigation," adding that Rivers "was ultimately involved in most aspects of the misconduct." Although Rivers is currently scheduled to serve the full four years in prison, it is likely that he will serve a reduced term, but that is contingent upon his "substantial assistance" in the government's ongoing investigation. Rivers' continuing cooperation possibly could be linked to antitrust issues raised by the Bolar case. In attendance at Rivers' sentencing were three Justice Department antitrust attorneys. Rivers' former boss Shulman has agreed to plead to a violation of antitrust laws ("The Pink Sheet" Nov. 11, 1991, p. 17). He pled guilty on Nov. 7, 1991 to five counts of conspiracy, wire fraud, false statements to FDA and obstruction of an agency investigation. Jordan and Rivers' defense attorney, Reid Weingarten, petitioned Judge Hargrove to recommend that the 63-year-old Rivers be sent to a minimum security facility. Hargrove noted that he has "no control over what the Bureau of Prisons will do."

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