ARNOLD F. SOCK, Attorney At Law Opines On: Three Ex-Constellation Executives Charged With $300,000,000 Stock Fraud
Three former top executives of bankrupt Constellation Healthcare Technologies Inc., a Houston-based medical billing business, were charged with criminal fraud ( U.S. District Court for New Jersey SECURITY AND EXCHANGE COMMISSION v. PARMAR et al 2:18-cv-09284).
in New Jersey federal court in an alleged $300,000,000 scam to inflate the value of their company as part of a merger to take it private.
In a 19-page complaint, prosecutors with the U.S. Department of Justice allege the executives gave phony financial documents and made false statements to a private investment firm and other investors to close a deal.
Executives need to follow the law and abide by the rules and regulations. As with anyone, not just where hundreds of millions of dollars is involved.
Opinion by ARNOLD F. SOCK, Attorney at Law