Syncor founder to settle with SEC
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The founder of a Woodland Hills nuclear medicine firm has agreed to pay a $75,000 fine to settle Securities and Exchange Commission allegations that he allowed improper payments to Taiwanese doctors to be recorded as advertising and promotional expenses.
The SEC charged Monty Fu of Syncor International Corp. with violating accounting provisions of the Foreign Corrupt Practices Act. Without admitting or denying the charges, Fu settled the 5-year-old civil case by agreeing to the fine and a permanent injunction, the SEC said.
Syncor, which prepared and delivered radioactive prescriptions, previously pleaded guilty to violating U.S. anti-bribery laws and was fined $2.5 million.
Fu’s attorney, Gordon Greenberg, noted that there were no allegations of fraud or bribery in the settlement.
-- E. Scott Reckard
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