What The Heck, It's A JobSusan Chandler
Fired in August amid embezzlement charges, his legal bills mounting, former Archer Daniels Midland executive and FBI mole Mark Whitacre could use a new job. He apparently has found one.
Whitacre has emerged from weeks of seclusion to report his appointment as chief executive officer of a Chicago area startup biotechnology company, Future Health Technologies. The company, he says, is seeking several patents for its medical products, which he declines to discuss. Its backers, who he says approached him through his attorney, weren't identified--but they plan a private equity placement next February, with a public offering to come later.
It's intriguing news on several counts--not the least because no one appears to have heard of Future Health. Jack W. Schuler, former president of Abbott Laboratories and a Chicago-area biotech investor, calls the report "really bizarre. If this company has something to do with health care and biotech, I would have heard about it," Schuler says. Other biotech investors are similarly mystified.
Whitacre admits that his company has yet to incorporate--one reason it fails to appear in the corporate records of all 50 states. In addition, Future Health has no phone listing in the Chicago area. The Cook County Clerk's Office, which registers sole proprietorships around Chicago, has no record of the outfit. Neither does the Securities & Exchange Commission.
Can an unincorporated, phoneless, anonymous operation with no product provide Whitacre with job satisfaction and a steady paycheck? Whitacre apparently thinks so. "ADM is in the past for me," he says. "I'm trying to put my life back together."
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