Thursday, February 16, 2017

Caddens NECC Earnings Hit $18 Million

By Walter F. Roche Jr.

The jury hearing the second degree murder trial of Barry J. Cadden will be able to hear a forensic accountant's report showing Cadden and his wife Lisa collected $18.1 million in profits from a now defunct Framingham drug compounding company.
In a brief ruling issued today U.S. District Judge Richard G. Stearns denied a motion by Cadden's attorneys to limit the accountant's presentation to the amount earned by the defendant alone.
Cadden's lawyers had argued that Lisa Cadden's earnings from the company were separate and use of the combined figure would be prejudicial.
Prosecutors countered by pointing out both Lisa and Barry's share of NECC profits went into the same bank account.
Cadden has been charged with racketeering and 25 counts of second degree murder as a result of a two year probe of the 2012 fungal meningitis outbreak which was caused by fungus tainted drugs shipped from NECC.
The accountant's report lists payments of $8.5 million to Lisa Cadden and $9.5 million to Barry Cadden between 1998 and October of 2012 when the company shut down.
Stearns did rule earlier that prosecutors could not make references to Barry Cadden's overall wealth, a point noted by Cadden's lawyers in the recent motion seeking to strike references to Lisa Cadden's earnings.
The outbreak sickened 778 patients and 76 of them died. Cadden, however, has only been charged in 25 of those deaths and the judge has barred the use of the higher figures.

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