A Democrat federal prosecutor on a ‘corporate fraud strike force’ has been accused of rank hypocrisy for profiting from $25million worth of shares from his billionaire father’s drug firm after the Justice Department alleged the company defrauded Medicare.
Los Angeles prosecutor Adam Schleifer, a former Democrat congressional candidate and member of the DOJ’s ‘Corporate & Securities Fraud Strike Force’, is the son of Regeneron CEO Leonard Schleifer, who is worth $2.5billion according to Forbes.
The same $75billion pharmaceutical company is famous for its Covid-19 antibody cocktail used by Donald Trump towards the end of his first term in the White House.
The DOJ accused the drug firm of taking ‘fraudulently inflated Medicare reimbursement rates’ for its macular degeneration drug, Eylea.
Regeneron filings obtained by DailyMail.com show that in June 2024, two months after the DOJ filed its civil complaint, 25,000 company shares were sold – sending $25,383,828.68 to a trust ‘for the benefit of Adam P. Schleifer’.
Former Trump administration official Robert Wasinger accused Schleifer of ‘rank hypocrisy’ over the $25million sale, telling DailyMail.com that he believes profiting from a company accused of defrauding the government was unacceptable for an anti-fraud prosecutor.
‘The public is finally waking up to the rank hypocrisy and corruption of our justice system,’ Wasinger, Trump’s former White House Liaison to the State Department, told DailyMail.com.
‘How is it that Adam Schleifer can serve on a DOJ Corporate Fraud Task Force while at the same time selling $25million in Regeneron stock two months after the government sues them for a massive Medicare fraud?’