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|birth_place = [[Beachwood, Ohio]]
|birth_place = [[Beachwood, Ohio]]
|residence = Beverly Hills, CA<ref>{{cite web|url=http://www.meetup.com/hedonists/members/14898591/|title=Terren P.|publisher=[[Meetup (website)]]}}</ref>
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|alma_mater = [[Wharton School of the University of Pennsylvania]]
|alma_mater = [[Wharton School of the University of Pennsylvania]]
|occupation = International Financier
|occupation = Investment banker
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|net_worth = 50 Million <ref>http://articles.latimes.com/1994-07-31/business/fi-22082_1_high-rollers</ref>
|boards = Crede Capital Group, Acuitas Capital Group, Socius Capital Group<ref name=CB>{{cite web|title=Terren Peizer|url=https://www.crunchbase.com/person/terren-peizer#/entity|publisher=[[CrunchBase]]|accessdate=17 December 2015}}</ref>
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'''Terren Scott Peizer''' is an investment banker who has held positions at [[Goldman Sachs]], [[First Boston]], and [[Drexel Burnham Lambert]].<ref name="GriffinMasters1997"/> He came into public view during ''[[Racketeer Influenced and Corrupt Organizations Act#Michael Milken|U.S. v Michael Milken]]'', "testifying in the [[insider trading|insider-trading]] case against [[Michael Milken]]".<ref>{{cite web | url=http://www.thedeal.com/content/regulatory/halcyon-cabot-accused-of-kickback-scheme-to-hide-discount-in-cell-therapeutics-pipe.php | title=Halcyon Cabot accused of kickback scheme to hide discount in Cell Therapeutics | publisher=''[[The Deal (magazine)|The Deal]]'' | date=10 August 2015 | accessdate=27 November 2015 | last=Springer | first=Paul | quote=Crede is the family office of investor Terren Peizer, who is known in part for testifying in the insider-trading case against Michael Milken, who Peizer worked with as a salesman at Drexel Burnham Lambert in the 1980s.}}</ref> Peizer later held positions at Beachwood Financial,<ref name=Lee1994/> as well as Hollis-Eden Pharmaceuticals Inc., researching the [[management of HIV/AIDS]] through pharmacotherapy.<ref name=Eaton1998/><ref name="Lubove1999">{{cite web | url=http://www.forbes.com/forbes/1999/0906/6405054a.html | title=Small world, ain't it? | publisher=''[[Forbes]]'' | date=6 September 1999 | accessdate=27 November 2015 | last=Lubove | first=Seth | archiveurl=https://web.archive.org/web/20090909081659/http://www.forbes.com/forbes/1999/0906/6405054a.html | archivedate=29 October 2015 | quote=Among them is Hollis-Eden Pharmaceuticals, an otherwise obscure San Diego biotech startup with one hopeful product: a potential treatment for HIV and other deadly viruses that could replace the current therapy of protease inhibitors and retrovirals.}}</ref> Within the pharmaceutical industry, T. Scott Peizer also worked to develop [[Prometa]], a drug used to terminate [[drug addiction]].<ref name=60m>{{cite web | url=http://www.cbsnews.com/news/prescription-for-addiction/ | title=Prescription for Addiction | publisher=''[[60 Minutes]]'' | date=7 December 2007 | accessdate=27 November 2015 | last=Pelley | first=Scott | quote=Addicts who have tried everything and remained hopelessly hooked say their drug cravings ended almost overnight. The therapy is called "Prometa." As correspondent Scott Pelley reports, it's being promoted by Terren Peizer, a former junk bond salesman whose business is business, not medicine.}}</ref>
'''Terren Scott Peizer''' dubbed the "Zelig of Wall Street"<ref>http://www.nytimes.com/1998/02/17/business/market-place-no-sales-but-watch-the-stock-soar.html</ref><ref>Taub, Stephen. “From rats to riches.” Financial World, Apr 26, 1994.</ref> is currently the Chairman of Los Angeles based investment company, Crede Capital Group (CCG).<ref>http://www.credecg.com</ref> CCG has provided alternative investment strategies to publicly traded companies with capital commitments and funding in excess of $900 million.<ref>SEC.gov</ref><ref>http://finance.yahoo.com/news/Private-Placement-Equity-iw-1867479401.html?x=)</ref> Peizer also serves as Chairman of Acuitas Capital Group,<ref>https://www.crunchbase.com/organization/acuitas-capital-group#/entity</ref><ref>Chardan Capital Markets Group Research Report http://www.xxiicentury.com/site/files/Xxii%202014-10-01%20$2.52%20China%20JV,%20Another%20Billion%20Dollar%20Opportunity.pdf</ref>


==Early life and education==
Raised in Beachwood, Ohio, a suburb of Cleveland, Peizer has frequently noted the importance of his family and his Ohio upbringing in various interviews. Although he has been called "One of Wall Street’s top players",<ref>Taub, Stephen. “From rats to riches.” Financial World, Apr 26, 1994.</ref> Peizer has exhibited a humble and modest lifestyle consistent with his Midwestern upbringing. It is believed that he still lives in the same condominium he first purchased in the 1980s when he moved to California.
Terran Peizer was born in [[Beachwood, Ohio]]. His half-brother had a problem with [[addiction]].<ref name=CB></ref> In 1980, Peizer graduated from [[Wharton_School_of_the_University_of_Pennsylvania | Wharton]] with a Bachelors in finance.<ref name=LinkedIn>{{cite web|title=Terren Peizer|url=https://www.linkedin.com/in/terren-peizer-390b59a|publisher=[[LinkedIn]]}}</ref><ref name=CB></ref>

Over the years, Mr. Peizer has been the largest beneficial stockholder and has held various senior executive positions within several technology and biotech companies.<ref>http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10961832-1376-9749&type=sect&TabIndex=2&companyid=85191&ppu=%252fdefault.aspx%253fcik%253d1136174</ref> Peizer, a graduate of the Wharton School of the University of Pennsylvania has extensive background in venture capital, investing, Mergers and Acquisitions and corporate finance. He has provided his expertise and assisted companies by assembling management teams, boards of directors and scientific advisory boards, formulating business and financial strategies, and establishing investor relations. Mr. Peizer has held senior executive positions with some of the top investment banking firms such as Goldman Sachs, First Boston and Drexel Burnham Lambert.


== Early career ==
== Early career ==
After university, Terren Peizer held positions as an investment banker at [[Goldman Sachs]] from 1981 to 1985, as well as at [[First Boston]].<ref name="GriffinMasters1997"/><ref>{{cite web | url=http://www.marketwatch.com/investing/stock/cats/insiders?pid=42582270 | title=Terren S. Peizer | publisher=''[[MarketWatch]]'' | accessdate=27 November 2015 | year=2015 | quote=He served as a senior member of the investment banking firm of Drexel Burnham Lambert, Inc.'s High Yield Bond Department. Mr. Peizer held investment banking positions from 1981 to 1985 at Goldman, Sachs & Co.'s Risk and International Arbitrage Division as well as the First Boston Corp.'s High Yield Securities Department.}}</ref>
In 1980, at just 20 years old, Peizer was recruited by Robert Rubin of Goldman Sachs from the Wharton School at the University of Pennsylvania and was believed to be the youngest associate during that era. In 1983 he was recruited by First Boston, where Peizer instantly became the most profitable high yield bond trader. He was occasionally referred to as the "Michael Milken of the East Coast", as he provided Drexel Burnham Lambert clients with an alternative to the Milken controlled High Yield Bond market. During his time at First Boston, Peizer led the first financing for a little known reverse merger company, Danaher Inc. Today Danaher is one of America's largest industrial companies. Peizer's most notable work while at First Boston came in 1984 when Peizerled the restructuring and financing of Ted Turner's insolvent Turner Broadcasting Corporation which specifically capitalized Turner Broadcasting Corp's CNN and WTBS Super Station with $185 Million; thereby saving it from bankruptcy.


==Drexel Burnham Lambert==
In the spring of 1985,in an effort to remove the competition from the marketplace, Michael Milken recruited the young Peizer as a Senior Vice President of Drexel Burnham Lambert. Michael Milken immediately anointed Peizer as his "Protege and Lefthand Man," <ref>Forbes, September 6, 1999 " War of the Milkenites" page 54-54 by: Seth Lubove</ref> as they shared clients, desk and phone before taking over all of Milken's direct client responsibilities, which made Peizer the most productive in the High Yield Bond department.


In 1985, Terren Peizer arrived in [[Los Angeles]] and started a position at [[Drexel Burnham Lambert]], under [[Michael Milken]].<ref name="GriffinMasters1997">{{cite book | first1=Nancy | last1=Griffin | title=Hit and Run | publisher=''Simon and Schuster'' | date=17 June 1997 | accessdate=26 November 2015 | last2=Masters | first2=Kim | page=142 | isbn=9780684832661 | quote=Peizer was twenty-five years old when he arrived in Los Angels in 1985 to start his job at Drexel Burnham Lambert. ...A former salesman at First Boston, Peizer had gained Milken's favor and confidence. Peizer was given a favored position next to Milken at his large X-shaped desk and a starting salary of $3.5 million a year with other perks thrown in.}}</ref> The job paid $3.5 million a year.<ref name=HC></ref>
In 1990, after being laid off with 5,300 other Drexel employees in the midst of Drexel's liquidation Peizer purchased a minor league basketball team, the Omaha Racers. After his purchase, the Racers won the CBA Championship and Peizer took that opportunity to sell the team.


In 1987, Peizer was involved in the [[Barris Industries]] merger with [[Peter Guber#PolyGram Filmed Entertainment and the Guber-Peters Company|Guber-Peters Co.]], as chronicled in the book Hit and Run by Nancy Griffin and Kim Masters. He was credited for introducing Peter and Gubers to each other as well as giving Burt Sugarman, who owned 31% of shares, the voting rights on all of John Peters and Peter Guber's shares.<ref>{{cite book | first1=Nancy | last1=Griffin | title=Hit and Run | publisher=''Simon and Schuster'' | date=17 June 1997 | accessdate=26 November 2015 | last2=Masters | first2=Kim | page=149 | isbn=9780684832661}}</ref><ref>{{cite web|title=Barris to Buy Guber-Peters|url=http://www.nytimes.com/1987/12/15/business/barris-to-buy-guber-peters.html|accessdate=3 December 2015}}</ref>
With "Peizer's reputation as one of Milken's sharp-elbowed traders preceding him,"<ref>Forbes, September 6, 1999 " War of the Milkenites" page 54-54 by: Seth Lubove</ref> Peizer then started his investment company Beachwood Financial and Wendover Financial Corporation before teaming up with Neil Cole. Peizer and Cole went on to capitalize the company Candies, which is the predecessor to today's multi-billion dollar Iconix Brand Group. During Peizer's early investment career, his function for many of these smaller and development stage companies was once described as "lender of almost last resort"<ref>http://articles.latimes.com/1994-07-31/business/fi-22082_1_high-rollers</ref> but Peizer's investment savvy empowered him to get favorable deals with these companies still in their early developmental stages.


In 1988,<ref name=HC>{{cite book|last1=Kornbluth|first1=Jesse|title=Highly Confident}}</ref> Peizer confessed that the company was involved in [[insider trading]] and provided evidence against his boss,<ref>{{cite web | url=http://community.seattletimes.nwsource.com/archive/?date=19901030&slug=1101269 | title=Milken Trial Produces Fascinating Portrait Of Drexel's Junk-Bond King | publisher=''[[The Seattle Times]]'' | date=30 October 1990 | accessdate=27 November 2015 | quote=Then it was The Moment. Terren Peizer, a young Drexel trader seated on Milken's left, was watching his boss as the words that would change both Wall Street and Milken's life forever materialized like tiny ghosts from the dark innards of his stock-quote machine: Ivan Boesky, the ticker said, had confessed to insider trading and become an informant.}}</ref> giving evidence to prosecutors against Michael Milken and David Solomon.<ref name="LLC1992">{{cite book | url=http://books.google.com/books?id=ieMCAAAAMBAJ&pg=PA14 | title=Another Side of the Story | publisher=''[[New York (magazine)|New York Magazine]]'' | date=20 July 1992 | accessdate=27 November 2015 | page=14 | quote=In a second example, Kornbluth shows how the Feds let themselves be conned into granting immunity to an apparently guilty Milken underling, Terren Peizer. This happened when Peizer gave prosecutors, hungry for evidence against Milken, a seemingly incriminating document that he said was written by Milken.}}</ref> Peizer's lawyer was [[Plato Cacheris]], who he hired after being subpoenæd.<ref name="Stewart2012">{{cite book | title=Den of Thieves | publisher=''Simon and Schuster'' | date=20 November 2012 | accessdate=27 November 2015 | last=Stewart | first=James B. | page=458 | isbn=9781439126202 | quote=As soon as he received his subpoena, Peizer hired a Washington lawyer, Plato Cacheris, a former partner of William Hundley, Trepp's lawyer; Cacheris had recently represented Fawn Hall in the Iran-Contra scandal. Peizer met with Cacheris in Washington, bringing with him a cache of documents from Drexel's Beverly Hills office. "I have these documents that are really damaging and I want to make a deal," Peizer said, displaying an unusual conviction and sense of purpose.}}</ref> He was granted immunity by the government.<ref name="LLC1992"/> According to Mary Zey, Milken pressured Peizer to destroy evidence.<ref name="Zey1993">{{cite book | title=Banking on Fraud: Drexel, Junk Bonds, and Buyouts | publisher=''Transaction Publishers'' | accessdate=27 November 2015 | last=Zey | first=Mary | year=1993 | page=11 | isbn=9780202364421}}</ref>
From 1999 through 2002 Peizer was Chairman of the Board of industry leading supercomputer designer and builder Cray, Inc., a Nasdaq Global Market company, and remains its largest beneficial stockholder.<ref>Forbes Profile</ref> In August 2006, Peizer founded and served as Chairman of the Board of Xcorporeal,Inc., a developer of wearable artificial kidneys, where he presided over the licensing of substantially all of the companies technology to the Dialysis Industry's dominant services provider Fresenius Medical Care for a substantial up front payment and ongoing licensing royalties.<ref>http://www.nejm.org/doi/pdf/10.1056/NEJMsa1502403</ref> Many of these companies, including Cray, Hythiam and Xcorporeal became public companies during Peizer's tenure.


"Peizer said he had kept a running tally on a ledger of the amounts owed between the firms" and when Ivan F. Boesky complied with the investigation, Peizer was told by Milken "to give the ledger to an associate, and it was never recovered".<ref>{{cite web | url=http://www.nytimes.com/1990/11/28/business/witness-against-milken-settles-sec-charges.html | title=Witness Against Milken Settles S.E.C. Charges | publisher=''[[The New York Times]]'' | date=28 November 1990 | accessdate=27 November 2015 | last=Eichenwald | first=Kurt | quote=In testimony at Mr. Milken's pre-sentencing hearing, Terren Peizer, a former Drexel trader, said he oversaw much of this trading. Mr. Peizer said he had kept a running tally on a ledger of the amounts owed between the firms. When Mr. Boesky agreed to cooperate with the Government, Mr. Milken told Mr. Peizer to give the ledger to an associate, and it was never recovered, Mr. Peizer said.}}</ref> Moreover, "Peizer also testified that a big Drexel customer received a personal interest in stock of Storer Communications Inc. after the company he worked for bought a large block of a Storer securities."<ref>{{cite web | url=http://articles.philly.com/1990-10-20/business/25894601_1_storer-securities-solomon-asset-management-link-milken | title=No Proof Of Bribery Is Offered Witness Fails To Link Milken | publisher=''[[Philadelphia Media Network]]'' | date=20 October 1990 | accessdate=27 November 2015 }}</ref> In the resulting court case, ''[[Racketeer Influenced and Corrupt Organizations Act#Michael Milken|U.S. v Michael Milken]]'', Terren Peizer was also able to provide insight into the work environment of the corporation, stating that "Drexel employees would meet in a small kitchenette so that the running water of a faucet would mask any conversations in case there were hidden microphones".<ref>{{cite web | url=http://articles.philly.com/1990-10-21/business/25895134_1_98-count-indictment-michael-r-milken-peter-gardiner | title=Prosecution In Milken Case Falters As Witnesses Forget, Aclu Criticizes - philly-archives | publisher=''[[Philadelphia Media Network]]'' | date=21 October 1990 | accessdate=27 November 2015 | last=Demick | first=Barbara | quote=Many of the Drexel group testified that an atmosphere of paranoia pervaded the trading room. Drexel employees would meet in a small kitchenette so that the running water of a faucet would mask any conversations in case there were hidden microphones, testified Terren Peizer, a former Drexel salesman.}}</ref>
Peizer's investment philosophy was taking shape during these years, which according to Peizer, was to "Invest in situations where you tip the playing field in your favor and Invest in companies with low market caps but with the ability to change the way its industry does things."<ref>Taub, Stephen. “From rats to riches.” Financial World, Apr 26, 1994</ref> Peizer applied his financial acumen and structuring expertise to minimize his investment at risk, but allow for exponential returns. This philosophy has served Peizer well, and it also points to his founding of Hythiam and Xcorporeal. Peizer has often stated his hopes that the two companies will change the addiction treatment and kidney dialysis industries, respectively.


==Hythiam==
==Major Deals and Financial Transactions==
In 2003, Terren founded Hythiam. He raised $20 million to fund the company.<ref>{{cite web|last1=Jackson|first1=Ted|title=The Physiological Frontier|url=https://www.docdroid.net/yGx7DN0/tm-1.pdf.html|publisher=Treatment Magazine|accessdate=17 December 2015}}</ref> It developed the HANDS protocol for addiction which was later named the [[Prometa]] protocol. It was a treatment for [[methamphetamine]], [[alcohol]], and [[cocaine]] addiction. The treatment consisted of 3 already available drugs, [[flumazenil]], [[hydroxyzine]], and [[gabapentin]]. The treatment protocol never went through FDA approval as the three drugs were already approved by the FDA and the FDA only requires approval for new drugs.<ref name=60m></ref> Peizer cites his half-brother’s addiction as one of his motivators for researching addiction.<ref name=CB></ref> From his research, he believed that addiction was physical in nature and can be treated with drugs.<ref name=TM3>{{cite web|last1=Eben|first1=Lasker|title=A Bold Bet on the Physiological|url=https://www.docdroid.net/DY1kv6r/tm-3.pdf.html|publisher=Treatment Magazine|accessdate=17 December 2015}}</ref> During this time, other companies, such as Alkermes, Bristol-Myers, Sanofi Aventis, Squibb, GlaxoSmithKline, and Cephalon, were also studying addiction drug treatments. There were a total of 35 anti-addiction drugs in various stages of development or testing during that period.<ref>{{cite web|last1=Ted|first1=Jackson|title=Addiction's Physiological Frontier|url=https://www.docdroid.net/5SbsTYi/tm-5.pdf.html|publisher=Treatment Magazine|accessdate=17 December 2015}}</ref> Peizer stated that his goal was to make a pharmaceutical solution possible for drug addicts.<ref name=TM3></ref>


== Other career details ==
Although there have been no recent attempts to estimate Peizer's wealth, the Los Angeles Times confirmed his net worth at $50 million back in 1994.<ref>http://articles.latimes.com/1994-07-31/business/fi-22082_1_high-rollers</ref> While discussing the unusual step of Peizer investing his own personal net worth in some investment deals, the paper stated that he "avoids the usual accoutrements of wealth, such as big houses and expensive cars." The reporter also noted that "Peizer still lives in the condo he bought nine years ago, when he came west to sit at Milken's left hand."<ref>Forbes, September 6, 1999 " War of the Milkenites" page 54-54 by: Seth Lubove</ref>
Following his departure with Drexel Burnham Lambert, Peizer, from 1993 to 1997, managed "his own investments through a private holding company, Beachwood Financial, named after [[Beachwood, Ohio|his hometown]] in Ohio".<ref name="Lee1994">{{cite web | url=http://articles.latimes.com/1994-07-31/business/fi-22082_1_high-rollers | title=In the Shadow of the '80s : Yesterday's High Rollers Struggle in a New Era of Sobriety | publisher=''[[Los Angeles Times]]'' | date=31 July 1994 | accessdate=27 November 2015 | last=Lee | first=Patrick }}</ref> In the latter part of the 1990s, Peizer served as the president of Hollis-Eden Pharmaceuticals Inc., being "passionate about the prospects for its anti-AIDS drugs".<ref name="Eaton1998">{{cite web | url=http://www.nytimes.com/1998/02/17/business/market-place-no-sales-but-watch-the-stock-soar.html | title=Market Place; No Sales, but Watch the Stock Soar | publisher=''[[The New York Times]]'' | date=17 February 1998 | accessdate=27 November 2015 | last=Eaton | first=Leslie | quote=Now Mr. Peizer has turned up as the president of Hollis-Eden Pharmaceuticals Inc., a fledgling drug company with a stock that has soared 170 percent this year, to $16.75 on Friday. While biotechnology stocks have been making something of a comeback lately, the Nasdaq index of these shares, which includes Hollis-Eden, has risen just 5.7 percent this year. While Hollis-Eden's market value, $112 million, might seem big for a company with no sales, much less earnings, Mr. Peizer is passionate about the prospects for its anti-AIDS drugs, and he is a persuasive salesman. ''This is a once in a lifetime opportunity for me,'' he said last week. ''We have something special.''}}</ref>


Peizer was chairman and largest shareholder of Terra Computers in March 2, 2000 when it purchased Cray Inc.<ref>{{cite web|last1=Clark|first1=Don|title=Tera Computer to Acquire Cray in Surprise Bid|url=https://www.docdroid.net/W9ZYX3p/the-wall-street-journal-2.pdf.html|publisher=The Wall Street Journal|accessdate=17 December 2015}}</ref>
However, despite his modest surroundings, Peizer has been involved in some of the top U.S. financial transactions. For instance, while at Drexel, Peizer was involved in financing some of the largest multi-billion dollar corporate takeovers of the 1980s, including Ted Turner's purchase of MGM/UA Entertainment Co.and the buyout of Beatrice foods, Storer Cable,and RJR Nabisco. Peizer and his clients also led the financings of America's most innovative and pioneering companies.<ref>Taub, Stephen. “From rats to riches.” Financial World, Apr 26, 1994</ref> This is best exemplified by the capitalizing of McCaw Cellular, the nation's first national cell phone carrier, which later became AT&T Cellular. Peizer and his clients led financings for such well known Industrialists as: Ron Perlman, John Malone, Carl Icahn, Ted Turner, Nelson Peltz and Rupert Murdoch. Peizer and his clients also financed many of the early buyouts of LBO pioneers KKR, Blackstone Group and The Carlyle Group. On the heels of the Turner/MGM/UA deal, Peizer became a magnet for entertainment deals and financings. One such deal, chronicled in the book "Hit and Run,"<ref>Google Books, Hit&Run</ref> married Peter Gruber and John Peter's, Guber Peter's & Co. with Burt Surgarman's Barris Industries. Motivated by Barris' $100 million cash hoard, Peizer merged the two companies, which then were immediately parleyed into Sony Pictures.


Peizer currently serves as the chairman and chief executive officer for Catasys, Inc., which "provides specialized healthcare management services to health plans and employers".<ref>{{cite web | url=http://www.themiddlemarket.com/news/restructurings/turnaround-tuesday-struggling-behavioral-health-services-provider-catasys-255992-1.html | title=Turnaround Tuesday: Struggling Behavioral Health-Services Provider Catasys Raises Cash | publisher=''The Middle Market'' | date=28 April 2015 | accessdate=27 November 2015 | last=Collins | first=Allison }}</ref>
Peizer surprised the financial markets when he successfully outbid Billionaire Alec Gores Technology Group in a takeover bid for Cray Research (now Cray, Inc.) by the much smaller Peizer-controlled, Tera Computer Co. Tera issued cash, stock and notes to purchase the once-struggling supercomputer company from Silicon Graphics. Over the years, Cray has developed many of the supercomputers used by the U.S. defense and intelligence communities, pharmaceutical, aerospace, oil drilling and weather and seismic industries. Within two years of Peizer's acquisition, Cray's market capitalization grew from $25 million to $1.3 Billion. His departure would have a profound effect as Peizer became vitally integral to the companies and developed an investor following. When a press release in 1999 "announced his "resignation" claiming his "objectives have been achieved," the stock dropped 16% on the day of the announcement. The stock has drifted further south to $13.50, off 47% from its 52-week high, from Peizer's resignation."


==Richard Josephberg v. Crede Capital Group, Terren Peizer et. al.==
==Prometa citicism==
On April 15, 2014, Terren Peizer and Crede Capital Group, was sued by Richard Josephberg for $4,800,000 for breach of contract. The case was judged by Judge Melvin L. Schweitzer. Josephberg lost the lawsuit.<ref>{{cite web|title=Josephberg v Crede Capital Group, LLC|url=http://law.justia.com/cases/new-york/other-courts/2014/2014-ny-slip-op-31018-u.html|accessdate=17 December 2015}}</ref><ref>{{cite web|title=Supreme Court of the State of New York Rules in Favor of Crede Capital Group, LLC|url=http://uk.reuters.com/article/ca-crede-capital-group-idUKnBw226009a+100+BSW20140522|accessdate=17 December 2015}}</ref>


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== References ==
It was Peizer’s half brother's struggle with addiction that spurred him to found the Prometa treatment program in 2003 and launch Hythiam,Inc.in 2004. Peizer capitalized the company with in excess of $170 million in capital.<ref>Ramshaw, Emily (January 20, 2008). "Texas' Prometa program for treating meth addicts draws skeptics".</ref><ref>"Prescription For Addiction". 60 Minutes (CBS News). December 9, 2007. http://www.cbsnews.com/stories/2007/12/07/60minutes/main3590535.shtml</ref> Prometa combines three medications as a treatment for substance dependence, which became known as the Prometa Treatment Protocol. The medications involved are all FDA approved.<ref>Ramshaw, Emily (January 20, 2008). "Texas' Prometa program for treating meth addicts draws skeptics". Dallas Morning News.</ref> Combining them for addiction treatment is different from the purposes for which they were individually approved. This is known as prescribing medications for "Off-label" use. More then 31 percent of all prescriptions prescribed by physicians are written for " off-label" use.<ref>see wikipedia-" Off-label " use-</ref>
{{reflist|2}}


== External links ==
Peizer was successful in getting Hythiam listed on the NASDAQ Global Market Exchange, using a technique Peizer has used many times before and has become Wall Street's leader in: the reverse merger or reverse public offering (RPO). Hythiam's treatment went on to help thousands of patients end their dependence and get better. Peizer and Hythiam caught the addiction industry's eye for not waiting until there was enough scientific "proof" that Hythiam's treatment was truly effective. Subsequent studies have since validated Hythiam's and Peizer's claims.<ref>http://hythiam.com/CompletedStudies.htm</ref> In July 2010, Hythiam and Peizer gained their first heath plan customer (Health Plan of Nevada,Inc. ), joining Ford Motor Company and the United Auto Workers in its adoption of Hythiam's Catasys Integrated Substance Dependence Treatment Solution. Peizer still envisions Hythiam's treatment methodology being deployed throughout the nation.
*[http://catasys.com/boardofdirectors.htm Catasys: Board of Directors]

*[https://www.linkedin.com/in/terren-peizer-390b59a LinkedIn]
Hythiam gained some notice for its 2006 ad campaign featuring deceased comedian Chris Farley, with the slogan, "It wasn't all his fault" (alluding to his death from a drug overdose). The company paid $25,000 to Farley's estate in order to use his image.<ref>"Farley’s photo to be used on drug treatment ads: Family gives approval to use image of star who died of overdose". Associated Press. April 1, 2006.</ref> This advertisement campaign garnered national attention, as Peizer became a fixture on the American news circuit, regularly appearing on national news syndicates such as Fox News, CNN, Good Morning America, The Today Show, and CNBC's Squawk Box and Mad Money. Despite questions about its tastefulness and criticism from addiction treatment providers for advertising direct to consumers, Peizer defended the campaign as "creating awareness" about addiction as a medical disease, not a social and psychological personality disorder.
Other critics focused on the company's emphasis on sales over research that would establish the validity of Prometa, especially since the FDA restricts marketing of drugs to the purpose for which they have been approved. Peizer justified the company's approach in a 60 Minutes episode as providing information about the treatment protocol to physicians, since Hythiam does not market the medications directly to consumers. The physicians in the practice of medicine, then prescribe the medications to the patients in need.[11]The FDA allows physicians to prescribe all FDA approved medications off label in the practice of medicine. Addiction experts marveled that Peizer was exploiting a nuance and "loophole."

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== References ==
{{Reflist}}


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Revision as of 12:44, 31 December 2015

Terren Scott Peizer
Born
Beachwood, Ohio
Alma materWharton School of the University of Pennsylvania
OccupationInvestment banker
Board member ofCrede Capital Group, Acuitas Capital Group, Socius Capital Group[1]
Websiteterrenpeizer.com

Terren Scott Peizer is an investment banker who has held positions at Goldman Sachs, First Boston, and Drexel Burnham Lambert.[3] He came into public view during U.S. v Michael Milken, "testifying in the insider-trading case against Michael Milken".[4] Peizer later held positions at Beachwood Financial,[5] as well as Hollis-Eden Pharmaceuticals Inc., researching the management of HIV/AIDS through pharmacotherapy.[6][7] Within the pharmaceutical industry, T. Scott Peizer also worked to develop Prometa, a drug used to terminate drug addiction.[8]

Early life and education

Terran Peizer was born in Beachwood, Ohio. His half-brother had a problem with addiction.[1] In 1980, Peizer graduated from Wharton with a Bachelors in finance.[9][1]

Early career

After university, Terren Peizer held positions as an investment banker at Goldman Sachs from 1981 to 1985, as well as at First Boston.[3][10]

Drexel Burnham Lambert

In 1985, Terren Peizer arrived in Los Angeles and started a position at Drexel Burnham Lambert, under Michael Milken.[3] The job paid $3.5 million a year.[11]

In 1987, Peizer was involved in the Barris Industries merger with Guber-Peters Co., as chronicled in the book Hit and Run by Nancy Griffin and Kim Masters. He was credited for introducing Peter and Gubers to each other as well as giving Burt Sugarman, who owned 31% of shares, the voting rights on all of John Peters and Peter Guber's shares.[12][13]

In 1988,[11] Peizer confessed that the company was involved in insider trading and provided evidence against his boss,[14] giving evidence to prosecutors against Michael Milken and David Solomon.[15] Peizer's lawyer was Plato Cacheris, who he hired after being subpoenæd.[16] He was granted immunity by the government.[15] According to Mary Zey, Milken pressured Peizer to destroy evidence.[17]

"Peizer said he had kept a running tally on a ledger of the amounts owed between the firms" and when Ivan F. Boesky complied with the investigation, Peizer was told by Milken "to give the ledger to an associate, and it was never recovered".[18] Moreover, "Peizer also testified that a big Drexel customer received a personal interest in stock of Storer Communications Inc. after the company he worked for bought a large block of a Storer securities."[19] In the resulting court case, U.S. v Michael Milken, Terren Peizer was also able to provide insight into the work environment of the corporation, stating that "Drexel employees would meet in a small kitchenette so that the running water of a faucet would mask any conversations in case there were hidden microphones".[20]

Hythiam

In 2003, Terren founded Hythiam. He raised $20 million to fund the company.[21] It developed the HANDS protocol for addiction which was later named the Prometa protocol. It was a treatment for methamphetamine, alcohol, and cocaine addiction. The treatment consisted of 3 already available drugs, flumazenil, hydroxyzine, and gabapentin. The treatment protocol never went through FDA approval as the three drugs were already approved by the FDA and the FDA only requires approval for new drugs.[8] Peizer cites his half-brother’s addiction as one of his motivators for researching addiction.[1] From his research, he believed that addiction was physical in nature and can be treated with drugs.[22] During this time, other companies, such as Alkermes, Bristol-Myers, Sanofi Aventis, Squibb, GlaxoSmithKline, and Cephalon, were also studying addiction drug treatments. There were a total of 35 anti-addiction drugs in various stages of development or testing during that period.[23] Peizer stated that his goal was to make a pharmaceutical solution possible for drug addicts.[22]

Other career details

Following his departure with Drexel Burnham Lambert, Peizer, from 1993 to 1997, managed "his own investments through a private holding company, Beachwood Financial, named after his hometown in Ohio".[5] In the latter part of the 1990s, Peizer served as the president of Hollis-Eden Pharmaceuticals Inc., being "passionate about the prospects for its anti-AIDS drugs".[6]

Peizer was chairman and largest shareholder of Terra Computers in March 2, 2000 when it purchased Cray Inc.[24]

Peizer currently serves as the chairman and chief executive officer for Catasys, Inc., which "provides specialized healthcare management services to health plans and employers".[25]

Richard Josephberg v. Crede Capital Group, Terren Peizer et. al.

On April 15, 2014, Terren Peizer and Crede Capital Group, was sued by Richard Josephberg for $4,800,000 for breach of contract. The case was judged by Judge Melvin L. Schweitzer. Josephberg lost the lawsuit.[26][27]

References

  1. ^ a b c d "Terren Peizer". CrunchBase. Retrieved 17 December 2015.
  2. ^ "Terren P." Meetup (website).
  3. ^ a b c Griffin, Nancy; Masters, Kim (17 June 1997). Hit and Run. Simon and Schuster. p. 142. ISBN 9780684832661. Peizer was twenty-five years old when he arrived in Los Angels in 1985 to start his job at Drexel Burnham Lambert. ...A former salesman at First Boston, Peizer had gained Milken's favor and confidence. Peizer was given a favored position next to Milken at his large X-shaped desk and a starting salary of $3.5 million a year with other perks thrown in. {{cite book}}: |access-date= requires |url= (help); Italic or bold markup not allowed in: |publisher= (help)
  4. ^ Springer, Paul (10 August 2015). "Halcyon Cabot accused of kickback scheme to hide discount in Cell Therapeutics". The Deal. Retrieved 27 November 2015. Crede is the family office of investor Terren Peizer, who is known in part for testifying in the insider-trading case against Michael Milken, who Peizer worked with as a salesman at Drexel Burnham Lambert in the 1980s. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  5. ^ a b Lee, Patrick (31 July 1994). "In the Shadow of the '80s : Yesterday's High Rollers Struggle in a New Era of Sobriety". Los Angeles Times. Retrieved 27 November 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  6. ^ a b Eaton, Leslie (17 February 1998). "Market Place; No Sales, but Watch the Stock Soar". The New York Times. Retrieved 27 November 2015. Now Mr. Peizer has turned up as the president of Hollis-Eden Pharmaceuticals Inc., a fledgling drug company with a stock that has soared 170 percent this year, to $16.75 on Friday. While biotechnology stocks have been making something of a comeback lately, the Nasdaq index of these shares, which includes Hollis-Eden, has risen just 5.7 percent this year. While Hollis-Eden's market value, $112 million, might seem big for a company with no sales, much less earnings, Mr. Peizer is passionate about the prospects for its anti-AIDS drugs, and he is a persuasive salesman. This is a once in a lifetime opportunity for me, he said last week. We have something special. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  7. ^ Lubove, Seth (6 September 1999). "Small world, ain't it?". Forbes. Archived from the original on 29 October 2015. Retrieved 27 November 2015. Among them is Hollis-Eden Pharmaceuticals, an otherwise obscure San Diego biotech startup with one hopeful product: a potential treatment for HIV and other deadly viruses that could replace the current therapy of protease inhibitors and retrovirals. {{cite web}}: |archive-date= / |archive-url= timestamp mismatch; 9 September 2009 suggested (help); Italic or bold markup not allowed in: |publisher= (help)
  8. ^ a b Pelley, Scott (7 December 2007). "Prescription for Addiction". 60 Minutes. Retrieved 27 November 2015. Addicts who have tried everything and remained hopelessly hooked say their drug cravings ended almost overnight. The therapy is called "Prometa." As correspondent Scott Pelley reports, it's being promoted by Terren Peizer, a former junk bond salesman whose business is business, not medicine. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  9. ^ "Terren Peizer". LinkedIn.
  10. ^ "Terren S. Peizer". MarketWatch. 2015. Retrieved 27 November 2015. He served as a senior member of the investment banking firm of Drexel Burnham Lambert, Inc.'s High Yield Bond Department. Mr. Peizer held investment banking positions from 1981 to 1985 at Goldman, Sachs & Co.'s Risk and International Arbitrage Division as well as the First Boston Corp.'s High Yield Securities Department. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  11. ^ a b Kornbluth, Jesse. Highly Confident.
  12. ^ Griffin, Nancy; Masters, Kim (17 June 1997). Hit and Run. Simon and Schuster. p. 149. ISBN 9780684832661. {{cite book}}: |access-date= requires |url= (help); Italic or bold markup not allowed in: |publisher= (help)
  13. ^ "Barris to Buy Guber-Peters". Retrieved 3 December 2015.
  14. ^ "Milken Trial Produces Fascinating Portrait Of Drexel's Junk-Bond King". The Seattle Times. 30 October 1990. Retrieved 27 November 2015. Then it was The Moment. Terren Peizer, a young Drexel trader seated on Milken's left, was watching his boss as the words that would change both Wall Street and Milken's life forever materialized like tiny ghosts from the dark innards of his stock-quote machine: Ivan Boesky, the ticker said, had confessed to insider trading and become an informant. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  15. ^ a b Another Side of the Story. New York Magazine. 20 July 1992. p. 14. Retrieved 27 November 2015. In a second example, Kornbluth shows how the Feds let themselves be conned into granting immunity to an apparently guilty Milken underling, Terren Peizer. This happened when Peizer gave prosecutors, hungry for evidence against Milken, a seemingly incriminating document that he said was written by Milken. {{cite book}}: Italic or bold markup not allowed in: |publisher= (help)
  16. ^ Stewart, James B. (20 November 2012). Den of Thieves. Simon and Schuster. p. 458. ISBN 9781439126202. As soon as he received his subpoena, Peizer hired a Washington lawyer, Plato Cacheris, a former partner of William Hundley, Trepp's lawyer; Cacheris had recently represented Fawn Hall in the Iran-Contra scandal. Peizer met with Cacheris in Washington, bringing with him a cache of documents from Drexel's Beverly Hills office. "I have these documents that are really damaging and I want to make a deal," Peizer said, displaying an unusual conviction and sense of purpose. {{cite book}}: |access-date= requires |url= (help); Italic or bold markup not allowed in: |publisher= (help)
  17. ^ Zey, Mary (1993). Banking on Fraud: Drexel, Junk Bonds, and Buyouts. Transaction Publishers. p. 11. ISBN 9780202364421. {{cite book}}: |access-date= requires |url= (help); Italic or bold markup not allowed in: |publisher= (help)
  18. ^ Eichenwald, Kurt (28 November 1990). "Witness Against Milken Settles S.E.C. Charges". The New York Times. Retrieved 27 November 2015. In testimony at Mr. Milken's pre-sentencing hearing, Terren Peizer, a former Drexel trader, said he oversaw much of this trading. Mr. Peizer said he had kept a running tally on a ledger of the amounts owed between the firms. When Mr. Boesky agreed to cooperate with the Government, Mr. Milken told Mr. Peizer to give the ledger to an associate, and it was never recovered, Mr. Peizer said. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  19. ^ "No Proof Of Bribery Is Offered Witness Fails To Link Milken". Philadelphia Media Network. 20 October 1990. Retrieved 27 November 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  20. ^ Demick, Barbara (21 October 1990). "Prosecution In Milken Case Falters As Witnesses Forget, Aclu Criticizes - philly-archives". Philadelphia Media Network. Retrieved 27 November 2015. Many of the Drexel group testified that an atmosphere of paranoia pervaded the trading room. Drexel employees would meet in a small kitchenette so that the running water of a faucet would mask any conversations in case there were hidden microphones, testified Terren Peizer, a former Drexel salesman. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  21. ^ Jackson, Ted. "The Physiological Frontier". Treatment Magazine. Retrieved 17 December 2015.
  22. ^ a b Eben, Lasker. "A Bold Bet on the Physiological". Treatment Magazine. Retrieved 17 December 2015.
  23. ^ Ted, Jackson. "Addiction's Physiological Frontier". Treatment Magazine. Retrieved 17 December 2015.
  24. ^ Clark, Don. "Tera Computer to Acquire Cray in Surprise Bid". The Wall Street Journal. Retrieved 17 December 2015.
  25. ^ Collins, Allison (28 April 2015). "Turnaround Tuesday: Struggling Behavioral Health-Services Provider Catasys Raises Cash". The Middle Market. Retrieved 27 November 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  26. ^ "Josephberg v Crede Capital Group, LLC". Retrieved 17 December 2015.
  27. ^ "Supreme Court of the State of New York Rules in Favor of Crede Capital Group, LLC". Retrieved 17 December 2015.
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