America's 'most hated man' Shkreli convicted of securities fraud

06 August, 2017, 00:28 | Author: Elaine Woods
  • Martin Shkreli and attorney Benjamin Brafman arrive at the U.S. District Court for the Eastern District of New York

It took almost five days of deliberation for a jury of seven women and five men in NY federal court to convict Shkreli of three of the eight counts he faced, acquitting him all charges related to wire fraud. "United Kingdom -based commenter "@1andrewfenton" suggested that prison guards charge Shkreli $1,000 per pill "if he goes to jail and requests an aspirin for a headache".

"When you lie to people knowingly and intentionally to get their money, it's a crime", federal prosecutor Jacquelyn Kasulis said in closing arguments July 28.

Attorney Ben Brafman made the claim during closing arguments in federal court in NY.

But the jurors did not find him guilty of one serious charge: That Shkreli had looted a pharmaceutical he founded, Retrophin, of $10 million, to repay investors.

Shkreli was initially taken into custody in 2015 after reports of a securities fraud probe emerged.

He was also known for his sometimes hours-long live streams on YouTube that often showed him engaged in mundane occupations such as petting his cat, although he also gave financial and chemistry lessons in the videos.

"I think we are delighted in many ways", said Shkreli said outside of the courthouse. It was much, much smaller in scale but eerily familiar in technique to anyone familiar with the business playbook of Bernie Madoff (now in prison for fraud after getting a 150-year sentence).

White House Says Trump Has No Plans To Shift Cabinet Members
"That is why we are here today: Merit-based", Trump said , joined at the White House Roosevelt Room podium by the bill's sponsors, Sens.

Reserve Bank of Australia holds at record low 1.5% as expected
The Australian dollar was buying roughly 80.2 United States cents before Governor Lowe issued the strongly-worded statement. Mr Farnham said the RBA was unlikely to raise rates this year, and the possibility of a further cut could not be dismissed.

AMD's Vega cards and packs: by the numbers
According to AMD the 17.8 release is the first driver to be compatible with the Vega GPU Architecture. However, the frequencies on the liquid-cooled Radeon RX Vega variant are somewhat higher.

Shkreli came to national attention after he purchased rights to a life-saving drug, Daraprim, in 2014, where he promptly raised the price from $13.50 to $750 per pill, leading him to be referred to as "the most hated man in America" and "pharma bro".

"An administrative professional who uses Twitter name "@icterid" joked that Shkreli would be working at the White House soon", trolling a Shkreli post on Facebook last week that he was "in for comms director" after Anthony Scaramucci's short stint in that White House post. He now faces a 20-year sentence in prison after being out on bail for 5 million dollars. He joked that maybe prosecutors "found one or two broomsticks".

Asked about his client's social-media antics, attorney Ben Brafman said it was something they would be working on. "This trial has been a difficult voyage for all of us, and it was a difficult voyage because it was a difficult case", Brafman said.

Shkreli was convicted Friday of three of eight counts against him.

Shkreli additionally told columnists he would proceed with his own claim against Retrophin, saying his part as CEO there might have been "ended by some bad on-screen characters", and that the organization at the focal point of the securities misrepresentation case would "be keeping in touch with me a vast check later on".

"I'm going to focus not on what people say about me, I'm going to focus on how much more can I learn about medicinal chemistry", he said. He told her "I don't think you understand pharmaceuticals".

Recommended:



Popular

Rouhani: Washington is 'addicted to the policies of sanctions and threats'
He has repeatedly criticized the slow pace of economic recovery since most global sanctions on Iran were lifted previous year . Mr Rouhani won 57% of the vote in May's election after promising to create jobs and build bridges with the outside world.

Iran says U.S. breaching nuclear deal as Rouhani starts new term
The incumbent moderate president won a landslide victory on May 19 by garnering 57 percent of the ballots. Supreme Leader Ali Khamenei has officially endorsed the reelection of Hassan Rohani as Iran's president.

Sean Spicer Says No to 'DWTS' and Twitter Flips Out
Reacting to the reports , actor Zach Braff tweeted : "Can't wait to see Sean Spicer waltz on Dancing With the Stars ". TMZ's sources also noted that Spicer likely wouldn't have done well on the show as he's "not a good dancer".

Trump's Obamacare repeal effort tanked, and so did his approval ratings
The Quinnipiac poll surveyed 1,125 voters nationwide between July 27 and August 1 over landline telephones and cellphones. Twenty-six percent said they viewed Trump as a levelheaded person, while 71 percent say they consider him unstable.

United States auto sales fall as makers cut rental sales
Automakers began offering in July, and will continue to do so for the rest of the summer as they make way for 2018 models. Automakers have used low-margin sales to rental fleets to avoid factory shutdowns.

Microsoft launches Surface Plus upgrade plan
The two plans, Surface Plus and Surface Plus for Business , are available at Microsoft.com or at Microsoft stores in the US. Surface Plus for Business will also let businesses get Office 365 for Business with an additional $8.25 per user per month.

Kathy Griffin shaves head in support of cancer-stricken sister
Retweeting the United States reporter's Twitter post , she wrote: 'My daughter Kathleen Mary is a wonderful human being'. It is split with another image that appears to be Griffin's mother Maggie with her hand atop the celeb's head.

UFC 214: Jon Jones Stops Daniel Cormier, Praises Him as 'Model Champion'
Backstage after UFC 214, Jones went into more detail about why he was interested in fighting a veritable man-mountain like Lesnar. After 2 1/2 rounds of even, high-level striking, Jones landed a left head kick that caught Cormier leaning in.

Jordan charges Israeli guard with murder over embassy shooting
The relatively swift end to the stand-off signalled progress towards ending the crisis over the contested shrine. Jordan is the official custodian of Muslim holy sites in Jerusalem.

Health care: Here's what the Senate is voting on
Rand Paul introduced the amendment - within two years, and come up with a replacement plan in the meantime. However, Governor Bill Haslam said that number shouldn't be the main focus of the debate.