The Daily Populous

Saturday September 14th, 2019 day edition

image for NY finds $1B in hidden transfers by family behind OxyContin

NEW YORK -- The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York's attorney general contends in court papers filed Friday.

New York -- asking a judge to enforce subpoenas of companies, banks and advisers to Purdue and its owners, the Sackler family -- said it has uncovered the previously unknown wire transfers among family members, entities they control and several financial institutions.

The transfers bolster allegations by New York and other states that the Sacklers worked to shield their wealth in recent years because of mounting worries about legal threats.

They point to $20 million shifted from a Purdue parent company to Sackler, who then redirected substantial amounts to shell companies that own family homes in Manhattan and the Hamptons.

Another $64 million in transfers to Sackler came from a previously unknown family trust, using a Swiss account, prosecutors said in their filing.

The family has used a complex chain of companies and trusts to control their holdings, some located in offshore tax havens.

The Sacklers had an estimated net worth of $13 billion as of 2016, making them America's 19th-richest family, according to Forbes magazine. »

45 Percent of Millennials Say That Living Costs Hold Them Back From Buying Homes

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Forty-five percent of prospective Millennial home buyers say that the cost of living inhibits them from purchasing a home, according to a survey released on Wednesday.

The survey reinforces prior research that has found the price of housing is rising at a rate that surpasses inflation.

Millennials, more than their older counterparts, are less likely to have $1,000 in emergency savings, meaning a recession could hit them particularly hard. »

Felicity Huffman Gets Prison Time in College Admissions Scandal

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“I can only say that I am so sorry, Sophia,” Huffman, 56, said minutes earlier, her voice cracking through tears.

Huffman admitted to paying a Harvard graduate $15,000 to correct Sophia’s answers on the SAT, securing her a 400-point boost on the college entrance exam.

Meanwhile, he said, 17-year-old Georgia is still in high school and busy with “attendant proms, boys, and college applications.”. »

Tucker Carlson falsely claims John Bolton was ‘man of the left’

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Fox News host Tucker Carlson celebrated the departure of former national security adviser John Bolton, saying the moustachioed war hawk was actually a lefty.

Carlson said Bolton was "one of the most progressive people in the Trump administration" and alleged that he "promoted Obama loyalists within the National Security Council.".

"There was not a human problem John Bolton wasn’t totally convinced could be solved with the brute force of government," Carlson said. »