August 8, 2018 / 9:47 PM / 11 days ago

Former biotech executive convicted of defrauding investors

The former chief executive of Massachusetts-based Nuclea Biotechnologies Inc was convicted on Wednesday of charges that he misused funds investors provided for two other companies he founded to line his own pockets and fund his fiancée’s restaurant.

A federal jury in Manhattan found Patrick Muraca, 49, guilty on one count of wire fraud and one count of making false statements to federal investigators following a trial that lasted more than one week, prosecutors said.

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