Boston Scientific’s Largest Investor John Paulson Named in SEC Fraud Investigation With Goldman Sachs
Posted Apr 19 2010 9:32am
I’m sure this is press that Boston Scientific would probably rather do without as they have been in the news a lot today, mostly over their stent products and court cases relating to patents. There’s a ton of money spent here that could go to the bottom lines of better healthcare. With the recent court decision there’s a lot of money to pay to J and J.
The FDA just enabled the company once again to begin marketing and selling their implanted heart defibrillators which was all over the news in the last couple weeks, and a little history is at the link below.
As consumers we all hate “stent” wars as we know that results in higher costs for us when in time of need for our lives and care. Back on track here this is probably the last thing that Boston Scientific needed to hear. As the housing market went down, Mr. Paulson’s hedge funds made a billion and is what lead to the SEC investigation of Goldman Sachs for setting up the mechanics of all of this. Goldman Sachs reportedly made over 13 billion in the hedge scheme as well. Healthcare sometimes has some strange and underlying ties to what goes on with Wall Street I would say. BD
John Paulson, whose hedge fund is the largest institutional investor in Boston Scientific Corp., is named in a Securities & Exchange Commission indictment of Goldman Sachs Co., accused of "fraudulent misconduct" in an alleged scheme to mislead the public about the sub-prime mortgage crisis.
John Paulson, one of Boston Scientific Corp.'s (NYSE:BSX) is embroiled in the Securities & Exchange Commission's indictment of Goldman Sachs Co., accused of "fraudulent misconduct" in an alleged scheme to mislead the public over the sub-prime mortgage crisis.
The SEC filed a civil suit against Goldman Sachs April 16, accusing the hedge fund manager of misleading the public with statements concerning the sub-prime mortgage securities whose collapse helped precipitate the near-meltdown of the global financial market.