Af­ter set­tling with the SEC, biotech VC Steven Bur­rill now faces up to 30 years for fraud, tax eva­sion charges

Not on­ly did Steven Bur­rill loot mil­lions from his biotech fund to sup­port a lav­ish lifestyle and find ways to pam­per his wife and girl­friend, he al­so al­leged­ly failed to pay tax­es on the mon­ey he ad­mit­ted tak­ing. And now Bur­rill, once one of the most promi­nent ven­ture cap­i­tal­ists in the in­dus­try, faces mul­ti­ple counts of fraud and up to 30 years in prison if con­vict­ed.

Ear­li­er this week the US De­part­ment of Jus­tice spread the word that Bur­rill had been in­dict­ed by a fed­er­al grand ju­ry in San Fran­cis­co on some 34 counts that he com­mit­ted wire fraud, in­vest­ment ad­vis­er fraud, and tax eva­sion in tak­ing cash out of his biotech fund.

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