Economy

'Pharma bro' Martin Shkreli of securities fraud, conspiracy

'Pharma bro' Martin Shkreli of securities fraud, conspiracy”

The other Martin Shkreli pleaded not guilty Friday in the same NY courtroom where the former pharmaceutical CEO was waiting for a verdict in his securities fraud trial.

A Manhattan jury found notorious "Pharma Bro" Martin Shkreli guilty Friday of defrauding investors in what prosecutors have described as an $11 million Ponzi scheme. Shkreli first came to fame in the US for buying the rights to a life-saving drug and then immediately raising the price to $750 a pill from $13.50. He was widely criticized, and seemed to relish the attention; he continued his flamboyant trolling by livestreaming his activities, fighting on Twitter, harassing women, and aligning himself with the extreme Right. That episode is unrelated to the fraud case.

Shkreli called the case "bogus".

Federal prosecutors accused Shkreli of mismanaging money at his investment funds Elea Capital, MSMB Capital Management and MSMB Healthcare, and as CEO of Retrophin, a drug company he founded in 2011.



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