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December 26, 2012

Maker of Fake Goat Blood Cure Faces Civil Suits

An investor alleges the maker of a bogus drug made from goat’s blood owes him $200,000, San Antonio Express-News reports. Charles Arnold, a 73-year-old partially paralyzed neuropsychiatrist, claims Douglas McClain Sr., 61, still owes him in full. McClain claims that he has paid back $15,800 and intends to pay back the complete amount to Arnold. More than $7.8 million in civil court judgments against McClain have been filed by investors. McClain was the chief scientific officer of Argyll Biotechnologies LLC, the biggest shareholder of Immunosyn Corp., which manufactured the fake remedy. The company claimed the drug, called SF-1019, could cure HIV/AIDS and other diseases. In 2011, the Securities and Exchange Commission (SEC) accused Immunosyn Corp. of cheating $20 million from investors, some of whom were terminally ill. The SEC also accused the company of hiding from investors the fact that the Food and Drug Administration had twice stopped human trials of the drug.

To read the article, click here.

Search: Douglas McClain Sr., Charles Arnold, Argyll Biotechnologies, Immunosyn Corp., SF-1019, Securities and Exchange Commission, SEC, Food and Drug Administration, FDA, fake, goat, cure


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