Biotech venture capitalist G. Steven Burrill and his firm, Burrill Capital Management, will pay $5.785 million to settle charges that Burrill siphoned money from the Burrill Life Sciences Capital Fund III under the guise of “advanced” management fees to fund his lavish lifestyle. The SEC’s order also found Burrill Capital Management’s Chief Legal Officer and Controller to have played integral roles in Burrill’s scheme. They will pay $275,000 combined to settle the SEC’s charges. SEC
* * *If you would like more information or would like to speak to a member of Constantine Cannon’s whistleblower lawyer team, please click here.