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Saturday, July 2, 2022

Martin ‘Pharma Bro’ Shkreli Found Guilty of Three Charges

Martin Shkreli
Martin Shkreli convicted of securities fraud (Source: CNN Money)

NEW YORK—(ENEWSPF)—CNBC is reporting that Martin Shkreli, infamously known as ‘Pharma Bro,’ has been found guilty of three fraud charges by a federal jury. He now faces several years in prison when sentenced at a later date.

Shkreli, a 34-year-old former pharmaceuticals company CEO and hedge fund manager who has been called the “most hated man in America and the “face of corporate greed,” was charged in the Eastern District of New York with eight counts of securities and wire fraud.

He was found guilty of three of those charges, including conspiracy to commit securities fraud and two counts of securities fraud, CNBC reports.

He was found not guilty on five counts, including the wire fraud-related charges, according to CNBC. He now faces up to 20 years in prison. A sentencing date has not been set. It is also not clear if he plans to appeal. Shkreli has loudly maintained his innocence since his arrest.

Shkreli was also the CEO of Turing Pharmaceuticals until his arrest where he gained notoriety after purchasing the rights to the drug Daraprim, used in the treatment of a rare parasitic infection that targets pregnant women and AIDS and cancer patients. Shkreli raised the drug’s price from $13.50 per tablet to $750.00 per tablet.

You can read more here.

Source: www.heavy.com

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