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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