The suitseeks unspecified damages that include a $10,000 fineforeachprescriptionobtained throughfraud and repaymentof any profitthecompanymade from the alleged scheme.
Fraudforprofit is committed by industry professionals who misstate, misrepresent or omit relevant details about their personal or their clients' employment and income, debt and credit, or property value and condition with the goal of maximizing profits on a loan transaction.
Lasser's dismissal followed charges by the U.S. Securities and Exchange Commission of securities fraud at Putnam, which allegedly failed to reveal trades employees conducted for personal profit and at the expense of mutual fund shareholders.