By Walter F. Roche Jr.
A buyer has apparently been found for the 9,000 square foot home of a jailed former drug company executive and the price is about half of the original asking price.
The listing for the Wrentham, Mass. home of Barry J. Cadden states that it is "under contract." The property is subject to a federal court forfeiture order and half of the proceeds will go to the federal government.
The five bedroom house was originally listed for just under $3 million but the price has been cut several times with $1.5 million the latest asking price. It has been on the market for 303 days.
Exact details of any sale won't be known until a deed is recorded at the Norfolk County Registry of Deeds.
Cadden headed the New England Compounding Center, the company that federal regulators say caused a deadly fungal meningitis outbreak. More than 100 patients injected with an NECC steroid have died and some 800 have been injured, some permanently.
Cadden was convicted of racketeering, conspiracy and mail fraud and was sentenced to nine years in prison. He is currently an inmate at a federal prison in Loretto, Pa. His scheduled release date is June 6, 2025.
Under a forfeiture order approved by U.S. District Judge Richard G. Stearns, bank accounts, jewelry and real estate assets held by Cadden were ordered to be sold or turned over to the federal government.
Cadden was allowed to keep a second home along the Rhode Island coast under a compromise forfeiture order negotiated with federal prosecutors.
U.S. Justice Department lawyers have expressed hopes that some of the Cadden assets could go to victims, but Stearns has ruled that those sickened by NECC steroids don't qualify as victims under federal law.
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