Chicago Politician Carl Segvich Applauds Attorney General of New York for prosecution of Nikola Founder Trevor Milton
Chicago Politician Carl Segvich
LOS ANGELES, CA, UNITED STATES, October 24, 2022 /EINPresswire.com/ -- Chicago Politician Mr. Carl Segvich applauds the Attorney General of New York for the prosecution of Nikola founder Trevor Milton, and personally implores Ms. Leticia James (protector of New York citizens) to pursue the fraud behind the $1.1 billion capital raise and the subsequent implosion of Bluebird Bio stock from $185 in 2018 to $7 today.
The New York State Attorney General indicted Milton for deliberately deceiving and misleading investors. On October 17th, United States v. Milton, 21 Cr. 478, a federal Jury found Milton guilty of defrauding investors by lying about the supposed technical achievements of the electric truck maker he founded.
In 2018, Bluebird Bio raised $1.1 billion dollars from unsuspecting investors by selling 3,520,353 shares at $185 in January and another 3,384,616 shares in July at $162.5.
In a 2018 prospectus, Bluebird did not disclose that its officers had admitted in court documents that the company’s therapy for the treatment of transfusion-dependent β-thalassemia was inefficient and that they had stolen intellectual property from other patented products in order to improve their LentiGlobin treatment.
As a result, in October 2021, Bluebird was sued for patent infringement in the District Court of Delaware. Seemingly, as an admittance of guilt, on October 18, 2022, Bluebird’s own counsel filed an inter-parties review (IPR) petition with the United States Patent Office in an attempt to invalidate the patents that Bluebird is being accused of infringing. See IPR2023-00070 and IPR2023-00074.
Bluebird executive’s fraudulent behavior pushed the price of the approved product for Sickle Cell Disease patients to an inaccessible $2.8 million dollars. Every New York citizen will pay the price and many Sickle Cell Disease patients will die as a result. The fraud is laid out in court documents.
Knowing these facts, Nick Leschly, Mitch Finer, Jeffrey T. Walsh, David M. Davidson, Jason F. Cole, Philip D Gregory, and Third Rock Ventures executives sold billions of dollars worth of shares to unknowing investors. The shares later imploded to $6.
Nick Leschly personally sold over 20 million dollars worth of shares in 2018 alone, and documents prove that Mr. Leschly lied to stock analysts about his company’s product and knowledge of the competitive landscape.
Big Pharma scurries to profit from the ridiculous pricing. Vertex, a billion-dollar pharma company, is preparing to market its own gene therapy product. Vertex’s CEO, Reshma Kewalramani, said she is "hopeful" regarding health institutions' commitment to "equitable care" to cure Sickle Cell Disease which primarily affects black people, “after the murder of George Floyd.”
“This is an utter non-sequitur,” Segvich rebuked, “The approval makes no sense and the idea that the approval is used to commemorate George Floyd?!"
The Institute for Clinical and Economic Review endorsed the ridiculous price. ICER is a nonprofit, not a not-for-profit entity. Nonprofits have little in common with not-for-profit organizations, other than neither pays taxes.
ICER's budget was $10.5 million in 2019 and President Steven Pearson took $571,548 in salary alone.
“Bankers and lawyers are controlling the entire process,” Segvich made clear.
On January 1, 2021, Congress passed securities law amendments that strengthen the SEC’s enforcement powers, doubling the SEC’s statute of limitations for disgorgement to 10 years in intentional fraud cases.
Mr. Segvich also implores the SEC and the FBI to take a long hard look at the Bluebird Bio implosion which cost patient lives, and billions to investors and smudged the face of our financial markets. All allegations against Bluebird Bio and Third Rock Ventures are based on documents from the New York Supreme Court file, ‘150856/2017.’
Sources:
https://www.electrive.com/2021/07/30/trevor-milton-sued-by-new-york-attorney-general/
https://iapps.courts.state.ny.us/webcivil/etrackLogin
Aurora DeRose
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