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Ex-Mass Biotech Board Chairman Will Plead Guilty To Stock Scheme: Prosecutor
The former chairman of Massachusetts-based Arch Therapeutics, Inc. will plead guilty to illegally selling stock when he was still a board member of the company, federal authorities said.
Avtar Singh Dhillon, 61, who now lives in California, faces potentially years in prison and millions in fines when he pleads guilty to the three felony securities violations, the US Attorney for Massachusetts said. Dhillon's attorney, who helped him unload the stocks, also plans to take a plea in the case, authorities said. Federal authorities arrested him last year.
Investigators said Dhillon, …
