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Harry Markopolos (Madoff whistelblower) on Pharma Companies

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Celebration Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-23-10 04:16 PM
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Harry Markopolos (Madoff whistelblower) on Pharma Companies
I'm reading his book "No One Would Listen" which I highly recommend, about his decade long effort to expose the Bernie Madoff ponzi scheme. He now is something of a professional whistleblower, just because he loves it. There is not much money in it, but his wife has a good salary.

In one part of the book he writes this on pharmaceutical companies-- (p. 170)

I particularly wanted to meet people from the pharmaceutical world which I had discovered was ripe with fraud. As I had learned in my investigations, the health care industry makes Wall Street look honest. It's a $2 trillion a year business with no controls and limited auditing. On Wall Street the crooks at least have the decency to try to hide their frauds, but those people cheating Medicare don't even bother doing that. Wall Street is only taking your life savings, but in health care they may be stealing your life. I was surprised to discover how little "care" there is in health care. It's obviously no surprise that the pharmaceutical industry is a completely profit driven business, but the methods companies devised to earn some of those profits were surprising--and in the case I discovered, illegal.

I've been working on several cases that remain under investigation or under seal, meaning in both cases I can't discuss them. Truthfully, my career aspiration is to prove that a drug with more than a billion dollars in annual sales is actually killing Americans and citizens across the globe, that in the clinical trials the dangers of this drug were revealed, and and that the executives knew about the dangers and went ahead and marketed it anyway. I've been working on this case for a few years now without much success, but I hope someday I'll be able to find a key witness and get this case filed with the Department of Justice.


Wonder what drug he is talking about? This book was published in 2010.
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elleng Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-23-10 04:42 PM
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1. He really is a good guy, might even say GREAT!
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Celebration Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-23-10 05:03 PM
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2. and the story is really interesting
I highly recommend his book!
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