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by Mike Caswell

Joseph Padilla, a California man who pleaded guilty to charges arising from the Oncology Pharma Inc. manipulation, has protested a move by Boston prosecutors to sell his $6-million home. (All figures are in U.S. dollars.) Prosecutors have been seeking the court-ordered sale of the 8,255-square-foot residence, looking to satisfy a $3-million forfeiture order. Mr. Padilla claims that they are not entitled to sell the property, as it is his primary home and is worth far more than the amount he owes.

The legal scuffle over the house comes as part of a case in which prosecutors cited Mr. Padilla for a scheme he ran in part through a Canadian brokerage. According to the government, he inflicted losses of at least $42.5-million on investors by manipulating Oncology Pharma, an OTC Markets listing that claimed to be developing cancer treatments. There was no trial, as Mr. Padilla pleaded guilty. On Nov. 2, 2023, the judge imposed a 5-1/2 year prison sentence, along with a $3-million forfeiture order.

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