Brilliant Stanford geneticist, 87, ordered to pay $29m to friend who invested in fake miracle cure

A world-renowned geneticist and Stanford University professor has paid $29 million in fines after duping his friend into investing $20 million in his ‘miracle cure’ for Huntington’s disease.

Professor Stanley Cohen, 87, was found to have committed ‘a species of actual fraud and…deceit’ in misleading investors into a biotechnology company he founded in 2016, in a case which bears strong parallels to that of Stanford dropout Elizabeth Holmes.

Holmes was in November sentenced to 11 years in federal prison after a jury convicted her of defrauding investors through her former blood-testing company, Theranos.

Cohen’s company, Nuredis, was set up in 2016 and offered not blood testing but a cure for the fatal degenerative disease Huntington’s.

Huntington’s is a rare, inherited disease that causes the progressive degeneration of nerve cells in the brain, leading to mood changes, anxiety and depression. It affects around 41,000 Americans, according to the Huntington’s Disease Society of…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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