Economy

Former Lawyer For Pharma Dweeb Martin Shkreli Convicted Of Aiding Fraud

Former Lawyer For Pharma Dweeb Martin Shkreli Convicted Of Aiding Fraud”

A NY corporate lawyer who once advised Martin Shkreli was convicted on Wednesday of charges he helped the former pharmaceutical executive steal millions of dollars from a drug company to pay back investors in two failed hedge funds.

"We're just shocked by the decision", Reed Brodsky, a lawyer for Greebel, said after the verdict, Bloomberg reported.

Evan Greebel was convicted yesterday of conspiracy to commit securities fraud and conspiracy to commit wire fraud following an 11-week trial in NY, the US Department of Justice said in a statement.

Evan Greebel, who advised companies including Retrophin Inc, was yesterday found guilty of helping Shkreli steal $11 million from the company to pay back investors after Shkreli, a hedge-fund-manager-turned-drug-executive, lost their money in risky trades.

"We will continue to fight for justice for Evan Greebel and his family", Brodsky said by email.

He was also found guilty of attempting to illegally control the price and trading volume of Retrophin's stock, thereby defrauding investors and potential investors.

Shkreli, once dubbed "The Most Hated Man in America" was convicted in August of conspiracy to commit securities fraud and two counts of securities fraud, and is now awaiting sentencing. Shkreli incited public outrage for aggressive drug-pricing tactics in 2015.

Greebel, 44, was a partner at the law firm Katten Muchin Rosenman when he was working for Retrophin. Greebel later joined the firm Kaye Scholer, but resigned following his arrest in December 2015.

His online rantings about Hillary Clinton prompted a judge to revoke his bail and put him in a fortress-like federal jail that houses terrorism and mob suspects, the Metropolitan Detention Center, where his lawyer said in September he was in with the general population and was "doing reasonably well under very hard circumstances".

He faces up to 20 years in prison at his sentencing hearing, which will take place at a later date.



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