The man best known for hiking up the price of life-saving drugs is now found guilty of Federal Securities Fraud.
So-called “Pharma Bro” Martin Shkreli was found guilty on 3 of 8 federal charges. Shkreli never took the stand in his own defense, but defiantly spoke out after the verdict.
A jury convicted the formal Pharmaceutical CEO of Federal Securities Fraud and Conspiracy for cheating hedge fund investors out of more than $11 million.
Prosecutors calling it a ‘Ponzi Scheme’.
34 year old Shkreli once dubbed the most hated man in America after he increased the price of a lifesaving cancer and HIV drug, ‘daraprim’ by 5,000%.
Shkreli faces up to 20 years in prison. His attorneys plan to appeal.