Photo: Clinical Care Options
Dr. Yves Benhamou couldn’t bring himself to accept a payment for tipping a portfolio manager off about a death in the Albuferon trial. The FBI alleges that FrontPoint Partner’s Chip Skowron received confidential information from Yves Benhamou about a clinical trial in which two subjects taking a higher dosage of Albuferon developed interstitial lung disease, killing one and hospitalizing the other.
The Albuferon death tip allegedly saved Skowron and FrontPoint $30 millio.
According to the FBI:
Skowron offered Benhamou a bag containing two stacks of United States currency wrapped in bands. Benhamou understoof that Skowron was offering this money as payment for the confidential information that Benhamou had provided to Kowron in January 2008 concerning the Albuferon clinical trial. Benhamou did not accept this money.
It’s not known how much money was wrapped in the bands. Later, Benhamou accepted around $15,000 in cash from Skowron. He also stayed in a ~$5,000 hotel room paid by Skowron and let the FrontPoint manager arrange a car to pick up his daughter from the airport.