Former CytoDyn Executives Convicted of Securities Fraud, Face Decades in Prison

The fraudulent activities perpetrated by former CytoDyn executives Nader Pourhassan and Kazem Kazempour involved a complex scheme to mislead investors about the progress and regulatory status of leronlimab, an investigational drug being developed for the treatment of HIV and COVID-19. They deliberately misrepresented the drug's development and FDA submission processes to inflate CytoDyn's stock price, deceiving investors into contributing over $300 million[1][2]. Pourhassan personally gained $4.4 million, while Kazempour received $340,000 through this scheme[1]. The fraudulent activities spanned from 2018 to 2021, during which period they falsely assured investors of the drug's progress, even amidst incomplete regulatory filings, leading to their eventual convictions on multiple serious charges[1][2].