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'Pharma Bro' Martin Shkreli Found Guilty of 3 of 8 Charges, Including Securities Fraud (cnbc.com)

Posted by msmash on from the catching-up dept.

Former pharmaceutical chief executive Martin Shkreli has been found guilty of securities fraud. A New York City jury returned the verdict after five days of deliberations. From a report: Shkreli, 34, was convicted of some of the eight criminal counts that he had faced, which had included securities fraud and conspiracy to commit both securities fraud and wire fraud, after a more-than-month-long trial in Brooklyn, New York, federal court. Of the eight counts, Shkreli was found guilty of three. Those included conspiracy to commit securities fraud, and two counts of securities fraud. He was found not guilty of five counts, including those related to wire fraud. He faces up to 20 years in prison when he is sentenced.

2 of 146 comments (clear)

  1. Video by techsoldaten · · Score: 4, Interesting

    I heard his interview after the verdicts were announced:

    https://www.washingtonpost.com...

    Very proud of the return for investors. Plans to keep working on the remaining counts, this will likely end up being appealed.

    I actually believe this was all a marketing campaign for him personally. The fact he's still in some form of legal jeopardy doesn't seem to phase him much.

    He recognized that the costs of a necessary medicine are paid by insurance companies that gouge in other areas as well, and promoted the hell out of that fact. There's a part of me that wants to say this is some form of corporate theater, and he's auditioning for a much larger part in exploiting the financial system.

  2. Re:Woot. by thegarbz · · Score: 2, Interesting

    Yes he's an asshole but it doesn't make it any less of a dangerous road to be going down.

    How is convicting someone of a crime he committed a dangerous road?
    How does the date someone started investigating him for securities fraud make a difference?

    On the flip side, if someone just makes a silly amount of money after jacking up the prices of one of their product, what makes you think they won't get looked at to see if there isn't securities fraud going on?

    This seems like perfectly reasonable effect of a functioning society at work.