'Pharma bro' Martin Shkreli convicted in federal fraud case quoting : CNBC

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Shkreli's lead lawyer, Benjamin Brafman, told a group of journalists, "I hope tomorrow's reports inform the public that Martin Shkreli went to experience & despite being Martin Shkreli he won further than he lost." But Shkreli was acquitted of that charge, conspiracy to commit wire fraud, that Brafman referred to as "the money count." Brafman also said, "I think this verdict is a reasonably perfect verdict under the circumstances ... we are 90 percent pleased." That will happen after claimants & defense lawyers argue how much, if any, money Shkreli ought be ordered to forfeit, & after defense lawyers ask her to overturn the guilty verdicts. Shkreli, who remains free on $5 million bail, faces a maximum sentence of 20 years in prison.



'Pharma bro' Martin Shkreli convicted in federal fraud case
Securities fraud carries a maximum sentence of 20 years in prison, though defendants in such cases rarely receive the maximum sentence. Jurors in U.S. District Court in Brooklyn found Shkreli guilty of two counts of securities fraud & one count of conspiracy. But they acquitted him of five conspiracy counts, including conspiracy to robber from his old drug company, Retrophin Inc (RTRX.O). Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. He also emphasized that nothing of Shkreli's investors lost money, a rarity in a securities fraud case.

Ex-drug CEO Shkreli convicted on three counts in fraud case

Former drug company CEO Martin Shkreli was convicted Friday on three counts of deceiving investors in hedge funds. ADVERTISEMENTShkreli became notorious for hiking the price of a life-saving curing called Daraprim by further than 5,000 percent overnight after buying up the drug. During his testimony, he dodged questions & made faces, & afterward he attacked lawmakers as "imbeciles" on Twitter. His lack of remorse & arrogant public persona earned him the derisive media nickname "Pharma Bro."Shkreli called the fraud case against him "bogus," according to The Associated Press. Shkreli testified in 2016 at a House Oversight Committee hearing on hight drug prices.


collected by :Lucy William

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