Martin Shkreli AKA 'Pharma Bro' Found Guilty Of Securities Fraud And Conspiracy


Greebel is charged with conspiracy to commit wire fraud and conspiracy to commit securities fraud, the New York Law Journal (sub. req.) reported in a prior story.

Shkreli shook his head in apparent disbelief as the first of three guilty verdicts was read. Outside, he called his prosecution "a witch hunt of epic proportions", and he focused on the acquittals.

Shkreli said that he was acquitted of "the most important charges" and that he was "delighted in many ways with this verdict".

After the trial, Shkreli took to YouTube to live stream his thoughts on the trial, saying the jury's decision was "confused" on count eight and illogical, all while intimating the potential for appealing the verdict.

He also noted that prison would be "Club Fed", and that he would spend a few months playing basketball, tennis, and X-Box.

Outside the courthouse, protection lawyer Benjamin Brafman said that Shkreli's troublesome identity muddled the case. He could face a fine or up to 10 years in prison for each count he was found guilty.

Some of the five counts on which Shkreli was acquitted related to his unauthorized use of Retrophin shares to reimburse the hedge fund investors.

Prosecutors said that he then improperly used Retrophin stock and cash from the young firm to pay off the the funds' investors. The conviction "shows that those who corrupt the market will ultimately be brought to justice". Brafman was the opposite: during his closing argument, the diminutive celebrity defense attorney paced in front of the jury and tried an emotional appeal.

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You may remember Martin Shkreli as the pharmaceutical CEO who acquired the drug Daraprim and immediately raised the price of a single dose from $13.50 to $750. That episode is unrelated to the fraud case.

Days later, Shkreli told ABC News that the company would lower the price of Daraprim "to a point that is more affordable and is able to allow the company to make a profit, but a very small profit".

"I don't need that kind of fame", he said to a reporter who asked him about thoughts on his "newfound fame".

Shkreli also claimed to have unreleased music from bands such as The Beatles, Nirvana, and Brand New, but so far has not released anything.

In January of this year, he was kicked off Twitter and Periscope after making unwanted advances toward a magazine editor.

Still, that didn't stop social media users from mocking the absolute shit out of him.

"This was a witch hunt of epic proportions", he said in NY after the verdict.