SEC charges Provec­tus found­ing CEO Dees with loot­ing mil­lions for girl­friends’ cos­met­ic surg­eries, trav­el and more

Back in the ear­ly part of 2016, when Provec­tus’ $PVCT found­ing CEO Craig Dees re­signed for “per­son­al and health rea­sons,” new chair­man Al­fred Smith wished Dees well and then went on to say that the biotech had set up a re­view of the way it han­dled com­pen­sa­tion and ex­pens­es.

Late that year, the long­time CFO and in­ter­im CEO Pe­ter Culpep­per, was dis­missed “for cause.” And to­day the SEC says that both Dees and Culpep­per had loot­ed the com­pa­ny dur­ing their tenures at the pen­ny stock biotech, which trades OTC.

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