Terren Peizer

Terren Scott Peizer, is an investor, financier and stock promoter. He is the founder of the Los Angeles-based investment companies Acuitas Group Holdings, and is the CEO of Ontrak.[1][2]

Terren Scott Peizer
Born (1959-07-31) July 31, 1959
Beachwood, Ohio
Alma materWharton School of the University of Pennsylvania
OccupationFinancier
Websitewww.terrenpeizer.com

Peizer has held various senior executive positions within several technology and biotech companies, and was employed by Goldman Sachs, First Boston and Drexel Burnham Lambert as a bond salesman.[3]

Early life and education

Peizer was born in 1959, and raised in Beachwood, Ohio, a suburb of Cleveland. He graduated from the Wharton School of the University of Pennsylvania.

Career

In 1983, Peizer worked at First Boston, where he worked as a high yield bond salesman. After two years there he was interviewed by Michael Milken for a position at Drexel Burnham Lambert.[4]
Even though Michael's brother Lowell disapproved of Peizer, he was hired nevertheless, and given a 3.5 million dollar salary, as well as a $500.000 loan, so he could invest in the partnership.[5] Peizer worked directly under (and at the same desk as) Milken, whom he admired, sometimes pretending to be him on the phone, and calling him "Dad".[6]

When investigations into Milken's illegal activities started, Peizer approached the investigators, and offered them material evidence, in exchange for immunity.[7]

In 1989, after losing his job at Drexel Burnham Lambert (who were about to go bankrupt), Peizer moved back to his parents in Cleveland, and purchased a minor league basketball team, the Omaha Racers, which he sold again after about a year.[8][9].

Major deals and financial transactions

Between 1991 and '95 Peizer was also Chairman & CEO of Urethane Technologies, which was producing bicycle tires.
The company had been making losses since its inception in 1985, and went bankrupt in 1997.[10]

From 1993 to '95 he was the Chairman at CMS Enhancements (a subsidiary of Ameriquest), which produced computer parts.[11]

From 1997 to '99, Peizer was president of Hollis-Eden, a pharmaceutical company that was developing a drug that would work against HIV/AIDS, malaria, tuberculosis & biowarfare.[12]

In 1999 Peizer raised money for Tera Computer Company, a manufacturer of supercomputers, which allowed them to later buy out Cray Research. Peizer became chairman & director of Cray, until he stepped back one year later.[13]

Financial vehicles

Over the years Peizer has used the following holding and investment companies to conduct business (listed roughly in chronological order):

  • Financial Group Holdings (California) [14]
  • Beachwood Financial (California) [15]
  • Wendover Financial (California) [16]
  • Socius Capital Group (Delaware) [17]
  • Socius CG II (Bermuda) [18]
  • Crede Capital Group (Delaware) [19]
  • Crede CG II (Bermuda)
  • Crede CG III (Bermuda) [20]
  • Intellect Capital Group (Delaware) [17]
  • Acuitas Group Holdings (California) [16]
  • Acuitas Capital Group (California) [19]
  • Acuitas Financial Group (California) [21]
  • Optimus Capital Partners (Delaware) [21]
  • Optimus CG II (Cayman Islands)
  • Optimus Life Sciences Capital Partners (Cayman Islands) [22]

Prometa
Main article: Prometa

60 Minutes and The Dallas Morning News have criticized Peizer for bypassing clinical studies and government approval when bringing his Prometa program to market.[23][24]

References
  1. "22nd Century Group: A Lot Of Smoke, Not Enough Fire". nasdaq.com.
  2. "Curb Your Cravings For This Stock". wsj.com.
  3. "Kohlberg, Kravis Official Tells of a Hidden Milken Stake". The New York Times.
  4. "No Sales, but Watch the Stock Soar". The New York Times.
  5. Kornbluth, Jesse. Highly confident: The Crime and Punishment of Michael Milken. p. 213.
  6. Griffin, Nancy; Masters, Kim (12 January 2016). Hit & Run: How Jon Peters and Peter Guber Took Sony for a Ride in Hollywood. ISBN 9781439128046.
  7. "4th Drexel Employee in Immunity Bargain". The New York Times.
  8. "Of Rats and Riches". Financial World. 1994-04-26. p. 22.
  9. "Fun While it Lasted: 1989-1997 Omaha Racers".
  10. "Small world, ain't it?". Forbes.
  11. "CMS Enhancements Names New Top Management Team". LA Times.
  12. "Market Place; No Sales, but Watch the Stock Soar". The New York Times.
  13. "L.A. Financier Reemerges as Key Player in Cray Deal". Los Angeles Business Journal.
  14. "Drexel Figure Gains Control of UTI Chemicals". Los Angeles Times.
  15. "In the Shadow of the '80s : Yesterday's High Rollers Struggle in a New Era of Sobriety". Los Angeles Times.
  16. "Terren S. Peizer - About Me". terrenpeizer.com.
  17. "Terren Peizer Biography". marketscreener.com.
  18. "DayStar Technologies, Inc. - Schedule 13G". sec.gov.
  19. "Linkedin - Terry Peizer profile". linkedin.com.
  20. "Terren Peizer's Crede Capital Group invests $15 million into Net Element". terrenpeizer.com.
  21. "Growth Capital Investor" (PDF). growthcapitalist.com.
  22. "Advaxix - Notice of Redemption and Settlement Agreement". sec.gov.
  23. "Prescription For Addiction". 60 Minutes. CBS News. December 9, 2007. Archived from the original on 2020-08-05. Retrieved 2008-08-22.
  24. Ramshaw, Emily (January 20, 2008). "Texas' Prometa program for treating meth addicts draws skeptics". Dallas Morning News. Archived from the original on 2020-08-05.
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