This is a misleading headline. It is part of an $8.3B settlement.
Edit: I should have read the whole article. The $225M is against the $11B the family has siphoned from Purdue.
Edit: I should have read the whole article. The $225M is against the $11B the family has siphoned from Purdue.
They've known this was coming and drained as much as they could- from Dec 2019: https://arstechnica.com/science/2019/12/sacklers-siphoned-ne...
"The infamous megarich Sackler family will pay $235 million in civil penalties as part of a controversial $8.3 billion settlement with the US Department of Justice."
Further, the family owned all of Purdue Pharma. The company settlement is also a direct cost to the Sackler family. If the company has an $8.3 billion settlement with the DOJ, that is the family paying $8.3 billion from their asset as it was 100% owned by them.
The headline is slightly misleading, even if the Sacklers are scumbags. The headline is blatantly attempting to pretend the only cost to the Sackler family is $235m. You can tell by the article's opening, aggressive tilt; very colorful phrasing like "infamous megarich" - which is ars firing up the outrage machine in the first line to prep a reaction for the rest of the article.
The title is not misleading at all- the family which profited $10.7B is paying $225M.
The company already entered bankruptcy proceedings last year.
The company, of which they likely will not retain control, is settling for ~8billion.
Importantly, the company itself DOES NOT HAVE THAT MUCH MONEY. It is expected to pay it off over time, assuming it remains solvent.
The Sacklers, on the other hand, have drained nearly 10 billion dollars from the company account into their personal estate, and are retaining all but 225 million of it.
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My hot take - They can keep the fucking money, let them buy as much ramen from the prison commissary as they'd like.
The family will lose control of the company in bankruptcy but they knew this was coming and drained it ahead of time. DoJ is letting them get away with it.