{{Short description|Indian-American businessman}} {{Use dmy dates|date=February 2019}} {{Use Indian English|date=February 2019}} {{Infobox person | name = John Kapoor | image = | 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, British India | death_date = | death_place = | education = | alma_mater = Institute of Chemical Technology, Mumbai<br /> University at Buffalo | occupation = | known_for = Convicted felon as a large shareholder of Akorn Pharmaceuticals<br /> Founder and chairman, Insys Therapeutics | 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 news |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 |last1=Morrell |first1=Alex}}</ref> In the fall of 2017, Kapoor was arrested and charged with numerous felony counts including RICO conspiracy, conspiracy to commit wire fraud, and other crimes. He was found guilty on all counts, and those convictions were upheld on appeal.<ref name=forbes/><ref>{{cite web |url=https://www.bloomberg.com/markets/stocks |title=Stocks |website=Bloomberg.com |access-date=29 October 2017}}</ref><ref name="media.ca1.uscourts.gov">United States v. Kapoor, Nos. 20-1382, 20-1409 (1st Cir. Aug. 25, 2021), http://media.ca1.uscourts.gov/pdf.opinions/20-1368P-01A.pdf</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, Punjab Province, British 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== Kapoor 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== Kapoor moved from India to Lake Forest, Illinois. He has four children. 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 - Archive.org|url=https://pharmacy.buffalo.edu/about-us/facilities.html|publisher=The School of Pharmacy and Pharmaceutical Sciences, Univ of Buffalo|archive-url=https://web.archive.org/web/20190608163223/https://pharmacy.buffalo.edu/about-us/facilities.html |access-date=8 Jun 2019|archive-date=8 June 2019 }}</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|date=26 October 2017|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 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|date=24 January 2020 |language=en-us|access-date=2020-01-24}}</ref> His convictions and sentence were affirmed on appeal.<ref name="media.ca1.uscourts.gov"/> Because of COVID-19, Kapoor delayed the start of his prison sentence.<ref>{{Cite web|url=https://www.biospace.com/article/convicted-insys-founder-uses-covid-19-as-attempt-to-remain-free-on-bail-during-appeals-process/|title = COVID-19 Becomes Legal Strategy for Convicted Insys Founder| date=23 March 2020 }}</ref> Kapoor was incarcerated at Duluth FPC, a minimum security federal prison camp and released in June 2023 after serving 2 years of 5-1/2 year sentence. Kapoor was portrayed by Andy Garcia in the Netflix movie ''Pain Hustlers'' released in October 2023.<ref>{{Cite news |last=Knauth |first=Dietrich |date=2023-08-18 |title=Insys founder Kapoor should repay $6 mln for failed legal defense, judge rules |language=en |work=Reuters |url=https://www.reuters.com/legal/government/insys-founder-kapoor-should-repay-6-mln-failed-legal-defense-judge-rules-2023-08-18/ |access-date=2023-10-29}}</ref>
==References== {{reflist}}
==External links== * {{cite episode|title=Opioids, Inc.|series=Frontline|series-link=Frontline (American TV program)|network=PBS|station=WGBH|date=June 23, 2020|season=38|number=21|url=https://www.pbs.org/wgbh/frontline/documentary/opioids-inc/|access-date=October 3, 2023}}
{{DEFAULTSORT:Kapoor, John}} Category:Living people Category:1940s births <!--Category:American billionaires--> 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) Category:People convicted of racketeering Category:American people of Punjabi descent