>MB at 04:12, 11 June 2021

2021-06-11T04:12:00Z

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{{short description|Indian-American business man and convicted felon}}
{{Use dmy dates|date=February 2019}}
{{Use Indian English|date=February 2019}}
{{Infobox person
| name = John Kapoor
| image = John Nath Kapoor.png
| image_size =
| caption =
| birth_name = John Nath Kapoor
| birth_date = {{birth based on age as of date |72|2015|10|01}}<ref name=Forbes_02>{{cite web|title=John Kapoor|url=https://www.forbes.com/profile/john-kapoor/#30d0b9a47e7d|website=Forbes}}</ref>
| birth_place = [[Amritsar]], India
| death_date =
| death_place =
| nationality = American
| education =
| alma mater = [[Institute of Chemical Technology]], Mumbai<br /> [[University at Buffalo]]
| occupation =
| known for = Convicted felon as a large shareholder of [[Akorn|Akorn Pharmaceuticals]]<br /> Founder and chairman, [[Insys Therapeutics]]
| networth = >$1billion (2013)<br />[[United States dollar|US$]]175 million (May 2019)<ref>January 23, 2020. [https://www.cnbc.com/2020/01/23/former-insys-exec-john-kapoor-gets-5-12-years-for-opioid-scheme.html Former Insys exec John Kapoor gets 5 1/2 years for opioid scheme.] ''CNBC.''</ref>
| spouse = Editha Kapoor (deceased)
| children = 4
| parents =
| relatives =
| website =
}}

'''John Nath Kapoor''' (born 1942/1943) is an American multi-millionaire, pharmaceutical entrepreneur, former CEO of [[Insys Therapeutics]], and majority shareholder in the generic drug manufacturing company [[Akorn]].<ref name=forbes>{{cite web|url=https://www.forbes.com/sites/alexmorrell/2013/10/04/pharmaceuticals-developer-john-kapoor-is-new-billionaire/|title=Pharmaceuticals Developer John Kapoor Is New Billionaire|date=4 October 2013|work=Forbes|access-date=8 January 2014 |quote=Kapoor's worth well over $1 billion}}</ref> In the fall of 2017, Kapoor was arrested and charged with numerous felony counts including [[RICO]] conspiracy, conspiracy to commit [[Mail and wire fraud|wire fraud]], and other crimes. In June 2019, he was found guilty on all counts.<ref name=forbes/><ref>{{cite web|url=https://www.bloomberg.com/markets/stocks|title=Stocks|website=Bloomberg.com|access-date=29 October 2017}}</ref>

==Early life==
John Nath Kapoor<ref name=opencorporates>{{cite web|title=Akorn Inc.|url=https://opencorporates.com/companies/us_ky/0829240|website=opencorporates|access-date=1 October 2015}}</ref> was born in [[Amritsar]], India, into a family of modest means. He later moved to [[Mumbai]], where he graduated from the [[Institute of Chemical Technology]] (formerly UDCT) with a degree in pharmacy.<ref>{{cite news |last1=Rajghatta |first1=Chidanand |title=Indian-American pharma executive convicted of opioid racketeering - Times of India |url=https://timesofindia.indiatimes.com/nri/indian-american-pharma-executive-convicted-of-opioid-racketeering/articleshow/69165892.cms |access-date=24 July 2020 |work=The Times of India |date=May 3, 2019 |language=en}}</ref><ref name=Buffalo>{{cite web|title=John N. Kapoor, PhD '72|url=http://www.buffalo.edu/news/releases/2011/03/12424.html|website=Buffalo.edu|access-date=12 May 2015}}</ref> After moving to the United States, he attended the [[University at Buffalo]] on a scholarship and obtained a doctorate in medicinal chemistry in 1972.<ref name=Buffalo />

==Career==
He began his career in 1972 at Invenex Pharmaceutical in Grand Island, New York.

He worked his way up at LyphoMed, took the company public and oversaw its operations through a scandal involving lax production standards that resulted in several patients' deaths.<ref name=forbes /><ref>{{cite news |last=Herper|first=Mathew|date=25 October 2015|title=An Opioid Spray Showered Billionaire John Kapoor In Riches. Now He's Feeling The Pain|url=https://www.forbes.com/sites/matthewherper/2016/10/04/death-kickbacks-and-a-billionaire-the-story-of-a-dangerous-opioid/#14d1394e6e3f|work=[[Forbes]]|access-date=28 January 2019}}</ref>

==Personal life==
He moved from India to [[Lake Forest, Illinois]]. He has four children and now lives in [[Phoenix, Arizona]]. The John and Editha Kapoor Charitable Foundation, which supports the fight against cancer, was named after his late wife Editha, who died of [[breast cancer]].<ref name=Forbes_02 /> The [[University at Buffalo School of Pharmacy and Pharmaceutical Sciences]] named their building John and Editha Kapoor Hall, after a donation to the school by John, to honor him and his late wife. On June 3, 2019, the University at Buffalo passed a resolution to remove Kapoor's name from the UB Pharmacy School's building in light of Kapoor's RICO conviction.<ref>{{cite web|title=John and Editha Kapoor Hall|url=https://pharmacy.buffalo.edu/about-us/facilities.html|publisher=The School of Pharmacy and Pharmaceutical Sciences|access-date=22 May 2018}}</ref>

==Legal issues==
In October 2017, Kapoor was arrested in Arizona and charged with RICO conspiracy, conspiracy to commit wire fraud, and conspiracy to violate the Anti-Kickback Law.<ref name=justice/> The charges stem from allegations that he participated in a scheme to bribe doctors to prescribe [[fentanyl]], a powerful synthetic opioid manufactured under the brand name Subsys by his company Insys Therapeutics.<ref name=raymond>{{cite web |url=https://www.yahoo.com/news/billionaire-insys-founder-charged-u-opioid-bribe-case-020312521--finance.html |title=Billionaire Insys founder charged in U.S. opioid bribe case |work=Yahoo! News |agency=Reuters |author=Nate Raymond |date=26 October 2017 |access-date=28 October 2017}}</ref> U.S. Attorney William Weinreb said the charges reflected authorities' commitment to combat the [[opioid epidemic]].<ref name=raymond/> Kapoor is also alleged to have conspired to defraud health insurance providers.<ref name=justice>{{Cite web|url=https://www.justice.gov/usao-ma/pr/founder-and-owner-pharmaceutical-company-insys-arrested-and-charged-racketeering|title=Founder and Owner of Pharmaceutical Company Insys Arrested and Charged with Racketeering|website=www.justice.gov|language=en|access-date=2017-10-26}}</ref> Shortly after the charges were announced, Kapoor resigned from the Board of Insys Therapeutics.<ref>{{cite news |last=Wiles |first=Russ |date=30 October 2017 |title=Arrested billionaire resigns from Chandler's Insys Therapeutics board | url=https://www.azcentral.com/story/money/business/health/2017/10/30/arrested-billionaire-john-kapoor-resigns-board-chandler-insys-therapeutics/813447001/ |work=The Arizona Republic |location=Arizona, USA |access-date=30 October 2017}}</ref>

On May 2, 2019, Kapoor was convicted of engaging in a [[Racketeer Influenced and Corrupt Organizations Act|racketeering]] conspiracy to increase the profits of his company's opiate painkiller, Subsys.<ref>{{cite news|url=https://www.wsj.com/articles/insys-co-founder-and-former-employees-convicted-of-racketeering-conspiracy-11556825764?mod=hp_lista_pos3|title=Insys Co-Founder and Former Employees Convicted of Racketeering Conspiracy|first=Joseph|last=Walker|work=The Wall Street Journal|date=2 May 2019|access-date=2 May 2019}}</ref> On January 23, 2020, he was sentenced to 5.5 years in prison and described as a "former billionaire";<ref>{{citation|url=https://www.npr.org/2020/01/23/798973304/pharmaceutical-executive-john-kapoor-sentenced-to-66-months-in-prison-in-opioid-|title=Pharmaceutical Executive John Kapoor Sentenced To 66 Months In Prison In Opioid Trial|date=January 23, 2020|author1=Gabrielle Emanuel|author2=Vanessa Romo|publisher=National Public Radio}}</ref> Federal prosecutors had asked for 15 years.<ref>{{Cite web|url=https://gizmodo.com/drug-company-founder-gets-5-years-in-prison-for-bribery-1841202983|title=Drug Company Founder Gets 5 Years in Prison for Bribery Scheme to Boost Opioid Profits|website=Gizmodo|language=en-us|access-date=2020-01-24}}</ref> Because of COVID-19, Kapoor delayed the start of his prison sentence.<ref>https://www.biospace.com/article/convicted-insys-founder-uses-covid-19-as-attempt-to-remain-free-on-bail-during-appeals-process/</ref> Kapoor is currently incarcerated at Duluth FPC, a minimum security federal prison camp with a projected release date of December 11, 2025, according to the Federal Bureau of Prison's website.

==References==
{{reflist}}

{{DEFAULTSORT:Kapoor, John}}
[[Category:Living people]]
[[Category:1940s births]]

[[Category:Businesspeople from Phoenix, Arizona]]
[[Category:Former billionaires]]
[[Category:Indian emigrants to the United States]]
[[Category:Opioid epidemic]]
[[Category:University at Buffalo alumni]]
[[Category:University of Mumbai alumni]]
[[Category:Institute of Chemical Technology alumni]]
[[Category:Year of birth missing (living people)]]

John Kapoor - Revision history

>MB at 04:12, 11 June 2021