Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Sarcona convicted in supplement scam

This article was originally published in The Tan Sheet

Executive Summary

A federal jury convicts Frank Sarcona, a Boca Raton, Fla., businessman of defrauding more than 100,000 consumers out of more than $16 million "through his fraudulent sales techniques" relating to a supplement product called Lipoban, says Jeffrey Sloman, U.S. Attorney for the Southern District of Florida. Sarcona's sentencing is scheduled for Jan. 15, 2010. Sloman's Oct. 30 release says Sarcona - also known as Frank Sarcone and Dave Johnson - violated a 1999 final injunction order prohibiting his connection with the sale of a supplement and requiring him to post a $5 million performance bond before becoming involved with a weight-loss service or product. The injunction order stemmed from the lawsuit FTC v. SlimAmerica (1"The Tan Sheet" Feb. 10, 1997)

You may also be interested in...



SlimAmerica Super Formula weight loss products target of FTC suit.

SLIMAMERICA ORDERED TO HALT BUSINESS: SUPER FORMULA WEIGHT LOSS PRODUCTS advertising claims are "false and misleading," the Federal Trade Commission charged Feb. 3 after filing suit Jan. 24 against SlimAmerica. A temporary restraining order issued by a Miami federal court also freezes the assets of the Deerfield Beach, Fla.-based company. FTC's request to permanently enjoin SlimAmerica is scheduled for a hearing on Feb. 10.

Crunch Time For Protection Of New Therapeutic Uses In Europe

The pharmaceutical industry will be watching carefully as the EU Court of Justice deliberates on whether to deny or widen the granting of supplementary protection certificates on new therapeutic indications of authorized medicines.

Dr Reddy’s Posts Surprise Q3 Loss With NuvaRing Write-Off

Dr Reddy’s Laboratories reported an unexpected third-quarter consolidated net loss after taking a $156m charge related to its generic version of the NuvaRing contraceptive. However, the company’s shares jumped on a robust underlying performance that was praised by analysts.

Topics

UsernamePublicRestriction

Register

PS103510

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel