Trial begins this month for Pittsfield businessman accused of bilking investors out of $400K


Muraca is accused of defrauding investors in a pair of biotech companies he founded by using about $400,000 of their seed money for personal expenses wholly unrelated to the running of those businesses; Muraca had told investors their money would be used for pharmaceutical development and commercialization, according to the complaint. Some investor money was deposited directly into Muraca's personal account, according to the complaint.



from Biotech News