August 13, 2022

Generic Viagra peddler accused of stiffening business partners

The manager of a website selling generic Viagra and other prescription drugs was accused on Wednesday of defrauding millions of dollars in pay from his colleagues – and pushing them to take questionable accounting actions.

Geoffrey Chaiken, chief executive of Blink Health, even spied on business partners, suppliers and employees, according to a complaint filed in Manhattan federal court by Eugene Kakaulin, the company’s former chief financial officer.

Chaiken, who along with his brother Matthew launched Blink earlier this year, dreamed of creating the next tech unicorn by selling generics for up to 90% off the price of their branded clones.

“A lot of people didn’t like Steve Jobs. He was a hole, ”Chaiken reportedly told Kakaulin. “Look what he’s built. I’ll be Steve Jobs.

Instead, Chaiken set out on the path of deception, according to the costume.

In one case, the co-founder pressured former CEO Samarjit “Sam” Marwaha to sell nearly 200,000 shares of Blink’s private stock at $ 3.80 a share, according to the lawsuit.

Chaiken did not tell Marwaha at the time that Blink had just negotiated a financing round that valued the company at $ 16.25 per share, according to the lawsuit.

He even bragged about the act, according to the lawsuit. “Sam’s loss is our gain,” Chaiken told Kakaulin at a meeting in June, it was claimed.

Kakaulin claims in the lawsuit that he was ultimately fired and deprived of his legitimate stock-based compensation after challenging Chaiken’s “shady” business tactics.

In a statement, Blink said Kakaulin was a “former company employee who was terminated for cause after less than a year on the job.”

Kakaulin’s lawsuit “is false, malicious and unwarranted in fact and in law,” Blink added.

“The complainant is angry that he was fired for just cause and the complaint reflects his malicious and untrustworthy character,” he added.

Chaiken’s behavior worried people even outside of the C-suite, according to the costume.

“Geoff was a horrible person,” Chaiken’s ex-girlfriend, venture capitalist Alice Lloyd George, wrote to Kakaulin in an Aug. 5 text message.

“He said a lot of horrible things, including, ‘All the women in this business want to fuck me,’” George wrote of Chaiken in text messages included in the costume.

Later in August, Chaiken’s father, Dr. Barry Chaiken, backed down when the CEO falsely offered him $ 200,000 in Blink shares – for free.

In a text message, the father, who had agreed to pay for the shares earlier, called his son’s inappropriate offer “frightening and disturbing.”

“I think this represents a weakness in your personality which I find troubling and perhaps reflects a failure on my part as a parent,” Chaiken’s father wrote. “Love, daddy.”


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