crisis. the sackler family controlling purdue pharma trying to hide and protect its wealth as its company tries to hammer out a settlement with states and municipalities who accused the company allowing its highly addictive drugs to proliferate in communities across the country. nbc news kathy park following the story and kathy, we re learning about this more than a billion dollars supposedly funneled to banks and overseas locations. that s right. i want to start off by talking about how big of a deal this is, because the sackler family you mentioned, a wealthy group. forbes in 2016 said net worth somewhere around $13 billion, and you probably have heard the sack lesh family as well as purdue pharma in headlines a lot recently because currently bringing in thousands of opioid lawsuits and earlier in the week agreed to a settlement, a multibillion dollar settlement currently kind of in the
tentative stage now but terms laid out. highlight a few. purdue pharma would declare bankruptcy. the family would eventually give up control of the company and then turn it into a for-profit trust. then future profits would eventually go to the plaintiffs. i think what really stands out is that the settlement allows no admission of wrongdoing. so in addition to all of that, kendis, yesterday the new york attorney general essentially dropped this billion dollar bombshell. they subpoenaed several banks as well as advisers to the sacklers and were able to uncover information that a billion dollars, upwards of a billion dollars, was being transferred to various bank accounts, some to offshore accounts, some to swiss accounts. so that is just one little nugget of this ongoing saga with the sackler family and the new york a.g. she essentially wants to uncover what could be potentially more