Hedge Funds

Biotech fraudster Scott Sacane's sentencing delayed


Durus Capital Management founder Scott Sacane won another reprieve from jail on Thursday, when his sentencing in U.S. District Court was delayed for at least the fourth time.

Sacane pled guilty nearly a year ago, on December 21, 2005, to criminal charges of stock market manipulation through a fraudulent scheme aimed at driving up the stock price of two biotech companies, Esperion Therapeutics and Aksys. But his sentencing, which was originally to take place last April, has been rescheduled repeatedly.

In their complaint in the matter, prosecutors said that Sacane used his $600 million Durus Life Sciences Fund to