NEW YORK (AP) — A federal judge in New York displayed anger as she handed a four-year prison sentence to a biotechnology financier who was once among the nation's wealthiest people.

U. S. District Judge Colleen McMahon repeatedly scolded David Blech Thursday while imposing the prison term and a $1.3 million forfeiture. When he asked for leniency, she told Blech he'd gotten "all the mercy you're going to get."

The judge called Blech a "serial stock manipulator." He engaged in the same scheme in 2007 and 2008 as he had 20 years earlier. In that instance, he cooperated with the government and received probation rather than jail time.

His fall from prosperity came in the spring of 1994 when the value of biotechnology stocks collapsed.

Blech was told to report to prison in August.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel