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SEC charges pharma CEO, 2 companies with offering fraud
By 
Adrianne Appel2022-09-30T19:42:00
The Securities and Exchange Commission (SEC) charged Paul Edalat and two pharmaceuticals companies he controlled with engaging in a fraudulent investment scheme.
Edalat has been chief executive officer, controlling shareholder, and chairman of the board at Vivera Pharmaceuticals since April 2018. During that time, he was also controlling shareholder and chairman of the board at Sentar Pharmaceuticals.
From May 2018 until June 2020, Vivera raised about $6.6 million from 63 investors through a private placement memorandum that claimed Vivera owned an exclusive global license for a method of delivering CBD and THC, both derived from cannabis, under the tongue, according to the SEC’s complaint, filed Friday in U.S. District Court for the Central District of California.
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