(Reuters) - The case involves trades in the drug maker's shares conducted by four trust accounts set up in the Cayman Islands in 1996.
The OSC, Canada's senior securities regulator, alleges Melnyk set up the trusts into which, in September 1996, he placed more than 4 million shares of Biovail, or about 19 percent of the outstanding total.
Read more at Reuters.com Government Filings News
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