Two Martin Shkrelis meet same judge in same Brooklyn courthouse

Aug 06, 2017, 00:27
Two Martin Shkrelis meet same judge in same Brooklyn courthouse

He buzzed in a newspaper reporter and argued with her about his 2014 decision to buy the rights to a drug and raise the price from $13.50 to $750 per pill.

When challenged about his refusal to cooperate, he told a lawmaker: "I intend to follow the advice of my counsel, not yours".

Shkreli did admit that the case will make his future trickier to navigate. As he spoke, Shkreli smiled and cocked his head quizzically in mock confusion.

Shkreli remained defiant following his conviction on multiple counts, expressing satisfaction with the ruling.

Prosecutors asserted that Shkreli ran what was viably a Ponzi conspire, swindling financial specialists by overstating his own particular accreditations - for instance, guaranteeing that he went to Columbia University.

Former drug company executive Martin Shkreli and attorney Benjamin Brafman exits U.S. District Court after Shkreli was convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017.

"All of this was a witch hunt of epic proportions". "They may have found some broomsticks". When the jurors sent out a question on Tuesday, asking the judge to clarify the term "fraudulent intent", it sent a hopeful signal to Shkreli's defense team.

No sentencing date was set. Interestingly, the three charges relate to defrauding investors in two hedge funds and in Retrophin Inc.

A federal jury found a split verdict, with the three guilty findings and acquitting the self-style pharma bro of five other criminal counts.

Prosecutors said Mr. Shkreli eventually paid investors back with stock or cash from Retrophin by having them sign settlement or consulting agreements with the company. Brafman pointed out that all of the wronged investors whom the government put on the stand to testify had ultimately made money, not lost it, in spite of Shkreli's improper behavior. "And that is exactly what Martin Shkreli did". The Retrophin board of directors later sued Shkreli and he was ousted from the company for which he served as CEO. When I tuned in, he said, "I'm one of the richest New Yorkers there is".

The 34-year-old defendant faces up to 20 years in prison for his conviction on the most serious counts, and up to five years on the lesser count, though the terms could be much lower under sentencing guidelines.

The split verdict in Shkreli's trial came at about 2:37 p.m. on the fifth day of jury deliberations, after a more-than-month-long trial in Brooklyn, New York, federal court. "I don't get it", he said of the jury verdict, and said they made mistakes.

A namesake of "Pharma bro" Martin Shkreli appeared in the same courtroom in NY with the same judge on Friday.

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