Kosolcharoen ran a company called Liveyon he and pleaded guilty on 26 August to one count of introducing an unapproved new drug into interstate commerce with the intent to defraud and mislead.

According to the US Department of Justice "Beginning in 2016, Kosolcharoen created two companies, the Irvine-based Liveyon LLC and the San Diego-based Genetech Inc., to manufacture and distribute injectable stem cell products made from human umbilical cord blood. Liveyon marketed the products under different brand names, including “ReGen.”

"Kosolcharoen and others misrepresented ReGen as suitable for the treatment of a variety of conditions, such as lung and heart diseases, autoimmune disorders, Alzheimer’s disease, Parkinson’s disease, and others. Liveyon marketed the products throughout the United States until about April 2019 using advertising materials that contained multiple false and misleading statements about their purported safety and effectiveness."

He has been sentenced to three years in jail but as he is already serving a longer sentence for an unrelated offence, it makes no difference to him.

But a difference may be made when, in early December, there is a confiscation and compensation hearing.

Earlier story: https://worldmoneylaunderingreport.com/publications/web/news/another-am…