Biden’s DOJ announced it WILL NOT prosecute MCKINSEY for advising Purdue Pharma to “turbocharge” OxyContin sales amidst the opioid crisis.
ONE exec made a plea deal with a max sentence of 1 year.
Pathetic. A slap in the face to everyone who lost a loved one to the crisis.
Instead of prosecution, McKinsey gets a 5-year leniency deal that lets the consulting firm avoid the consequences of prosecution, which include barring the govt from employing the firm.
(Part of the misconduct here was McKinsey simultaneously advising both Purdue and FDA.)
Part of how the DOJ explains granting McKinley leniency, instead of prosecuting, is the corporation’s “cooperation.”
Which is a weird thing to reward the corporation for while also saying an executive obstructed the investigation!
South Africans, btw, are FURIOUS about McKinsey’s light penalty.
An official told @FT , “It will take 20 years to repair the damage done by McKinsey … these consultancy firms shouldn’t be allowed to buy their way out of criminal sanction with money.”
The Department of Justice reached a settlement with McKinsey, which involved a payment of $650 million to resolve both criminal and civil investigations related to their consulting work with Purdue Pharma. This settlement included a five-year deferred prosecution agreement, meaning that McKinsey will avoid traditional prosecution on criminal charges if they comply with certain conditions, such as stopping work related to the sale, marketing, or promotion of controlled substances. Additionally, a former McKinsey senior partner faced charges for obstructing justice by destroying documents.
Sources:
h/t arnott