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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.

5 of 146 comments (clear)

  1. Should have been all 8 charges by rahvin112 · · Score: 5, Insightful

    The guy ran a ponzi scheme, at points when he was claiming $100million in fund assets when he only had $1000 in the funds account. In the end he stole money from his new company's investors to pay off the fund investors he'd cheated so they wouldn't go to the cops.

    I bet the jury didn't convict him on the charges because his investors were made whole by the second theft. But when you commit a crime like he did it doesn't matter if you eventually make them whole, you commit the crime when you lie and commit fraud. I don't know if the court didn't explain this well enough to the jury or what, but the man defrauded hundreds of people, then stole money from Retrophin to pay back the investors from his failed hedge fund. He's no better than Madoff and he should go to jail for YEARS and be bared from any type of job in involving managing money including a cashier at the local grocery store.

    He's a dumpster fire of a human being and he broke the law and should do the time. I hope he spends a whole lot of time in a 8x10 cell all by himself.

    1. Re:Should have been all 8 charges by liquid_schwartz · · Score: 5, Insightful

      I completely disagree. He should not spend a whole lot of time in an 8 x 10 cell by himself.

      Shkreli should spend a whole lot of time in an 8 x 10 cell with a 300-pound oversexed lifer who's hung like a donkey.

      While Shkreli no doubt deserves a ton of punishment relying on prison inmates to mete out justice really speaks to the inadequacy of our "justice" system. Criminals are far more likely to prey on the weak than on the deserving. Since about half of all rapes occur while in the government's possession the best way to combat rape is to reduce this. There is literally no better place to start in terms of numbers.

      citations:

      http://www.dailymail.co.uk/new...

  2. I'll believe it when I see it by Dutchmaan · · Score: 5, Insightful

    He'll be out of prison in under 5 years and go right back to do all the things that made him rich at the expense of other people... He's rich and white... and our justice system is baby soft on white collar criminals.

  3. Rules For Getting Away With Stealing by IonOtter · · Score: 5, Insightful

    1: NEVER STEAL FROM RICH PEOPLE. Only steal from middle-class and below.

    2. If you're still going to steal from rich people, make sure they're not white.

    3. If you obey rules 1 & 2, don't be such a pulsating rectal cyst that even rich white people hate you.

    --
    [End Of Line]
  4. Re:Woot. by JohnFen · · Score: 5, Informative

    Because the goal of the justice system is supposed to be justice, not vengeance.