Vince Vaughn’s stepfather liable in goat blood drug case, jury finds

Doug McClain Ruins Vince Vaughn’s Career!?!
Vince Vaughn has been involved in some far-fetched scenarios during his Hollywood career — “The Internship,” anyone? — but if a screenwriter pitched him on a plot based on his family’s long-running federal court woes, even he might reject it as a little too much.
First the actor’s mom, Shea Vaughn, paid more than $1 million in 2006 to settle a complaint brought by the Securities and Exchange Commission.

Now, a decade later, the star’s stepfather has been found liable by a federal jury for misleading investors in a second, related case for improperly marketing a drug derived from goat blood.
Stephen Ferrone, 65, who is married to Vaughn’s mother and lives with her in a Lake Forest mansion, defrauded investors by falsely claiming the goat blood-derived drug his company developed was on track to receive approval for widespread use on patients, a jury found at the end of a two-week trial Friday.

Ferrone, the $400,000-a-year CEO of Immunosyn, also signed off on false SEC filings, the jury found. The SEC said Ferrone’s actions helped goose the stock price of Immunosyn, of which he and his wife owned 1.75 million shares, and that Immunosyn scammed $20 million out of investors.
The verdict means Ferrone, a former Cook County prosecutor who referred to his stepson as “Vincent” on the stand last week, could be barred from being the officer of a public company and he may have to repay any ill-gotten gains when the judge imposes punishment later this year.
Vince Vaughn, who was not a party to the case and was mentioned only in passing in court, declined to comment through his publicist Monday.
Friday’s verdict could bring to an end a five-year court battle that included ghoulish allegations that one of Ferrone’s business partners preyed on terminally ill investors and scammed them out of up to $300,000 by making false claims about the goat blood-derived drug.

~ by DeborahLayne on April 9, 2017.

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