A world-renowned geneticist and Stanford University professor has paid $29 million in fines after duping his friends into investing in his 'miracle cure' for Huntington's disease.
Professor Stanley Cohen, 87, was found to have committed 'a species of actual fraud and…deceit' in misleading investors into a biotechnology company he founded in 2016, in a case which bears strong parallels to that of Stanford dropout Elizabeth Holmes.
Holmes was in November sentenced to 11 years in federal prison after a jury convicted her of defrauding investors through her former blood-testing company, Theranos.
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