Legendary biotech VC Steven Burrill sentenced to 2.5 years for fraud

Famed biotech venture capitalist G. Steven Burrill is headed to federal prison after pleading guilty to defrauding his investors and falsifying tax returns.

Burrill, 74, faced up to 30 years in prison and $750,000 in fines, but he will serve just 30 months and pay $200 after signing a sealed plea agreement last year. Burrill will surrender to authorities on March 4, according to court documents.

According to prosecutors, the Bay Area investor siphoned more than $18 million from his fund, Burrill & Company, between 2007 and 2013. Burrill then dodged more than $4.7 million in taxes by failing to report the income, prosecutors said.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$20

for 3 months, then $399/year

$20 for 3 months Get Started

Then $399/year

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

To read the rest of this story subscribe to STAT+.

Subscribe

Log In