In accordance with the SEC’s ruling, Massachusetts resident Zorayr Mikael Manukyan-Zakaryan was a member of Pfizer’s due diligence team for a public offering and submitted bogus reports. The article describes the case’s history and what it means for businesses moving forward.
In connection with Pfizer’s takeover offer, the SEC recently filed a cease-and-desist order against Zorayr Mikael Manukyan-Zakaryan of Massachusetts. Even while the order itself doesn’t provide context for this instance, new information is becoming available that could help understand what went wrong.
What prompted Zorayr Mikael Manukyan-Zakaryan to file with the SEC?
The allegations against Manukyan-Zakaryan include: -False reports were filed by Zorayr Mikael Manukyan-Zakaryan to conceal assets
What prompted Zorayr Mikael Manukyan-Zakaryan to file with the SEC?
The SEC claims that Zorayr Mikael Manukyan-Zakaryan filed false reports in order to conceal his riches. Manukyan-Zakaryan is accused of breaking the Securities Exchange Act of 1934’s Sections 13(a) and 18. These sections forbid someone from purposefully submitting fraudulent reports to the SEC. Manukyan-Zakaryan is also accused of one count of obstructing justice. He may receive up to five years in prison and a $250,000 fine if found guilty.
Probe Into Pfizer
The former chief of research and development at Pfizer, Zorayr Mikael Manukyan-Zakaryan, has been accused of filing misleading reports with the business, according to the Securities and Exchange Commission (SEC), which has filed a complaint against him. The SEC claims that Manukyan-Zakaryan fabricated data to give the impression that Pfizer’s drugs were performing better than they actually were in order to advance his career within the organisation. Manukyan-Zakaryan is being asked by the SEC to pay a fee and return any gains he earned as a result of his false reporting.
On December 13, 2017, the SEC filed a complaint against Zorayr Mikael Manukyan-Zakaryan, a former Pfizer employee, in the US District Court for the Southern District of New York. Manukyan-Zakaryan allegedly filed fake papers to hide his involvement in a plot to pay doctors in Russia, according to the lawsuit.
The SEC asserts that Manukyan-Zakaryan bought Russian doctors’ prescribing privileges for Pfizer’s drugs with extravagant meals and tickets to sporting events from at least January 2013 through at least March 2014. Manukyan-Zakaryan allegedly promised the doctors in return that Pfizer would provide them with lucrative promotional opportunities.
Manukyan-Zakaryan is accused by the SEC of one count of wire fraud and one count of providing false information to the SEC. He may spend up to 20 years in prison and pay a $250,000 fine if found guilty.
The SEC’s inquiry
The SEC filed a complaint against Zorayr Mikael Manukyan-Zakaryan on March 9, 2019, saying that he submitted misleading information to the organisation. Manukyan-Zakaryan allegedly misrepresented the fact that he had sold his firm shares when, in reality, he never did, according to the SEC.
Manukyan-Zakaryan is accused of lying to the SEC about his income and assets. Manukyan-Zakaryan has been asked to pay a $50,000 fine and be permanently prohibited from working in the securities sector by the SEC.
Manukyan-Zakaryan could receive up to five years in jail and a $250,000 fine if found guilty on these counts.
Manukyan-Zakaryan has indicated he will fight the accusations and denied doing anything improper.
Additional intriguing details regarding Zorayr Mikael Manukyan-Zakaryan
Former police officer Zorayr Mikael Manukyan-Zakaryan was found guilty of filing fraudulent reports in an effort to hide a corruption scandal. Manukyan-Zakaryan is accused in the SEC order of lying about finding $8 million in cash while serving as a police officer in Yerevan, Armenia. The ruling further asserts that Manukyan-Zakaryan attempted to conceal his assets and lied about his involvement in the plan.
Zorayr Senior executive with the Armenian National Security Service (ANS) and Republican Party of Armenia member Mikael Manukyan-Zakaryan. His employees have accused him of filing fake reports to hide weapons trafficking activities. His trial is still going on, and he has refuted the accusations.
Visit for more articles: zapsumo.com
