Martin Shkreli, perhaps most (in)famously known for hiking the price of a drug for protozoal infections to $750 a freakin’ tablet from $13.50 after acquiring it, has been convicted on three of eight counts of securities and wire fraud, after a five-week trial in the Federal District Court in Brooklyn.
The 34-year-old CEO of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc. was accused of defrauding his former hedge fund investors and pharmaceutical company. Further endearing himself to everyone, he claimed before the trial that he “so innocent” that the judge, jury and prosecutors would apologize to him afterward.
We’re sorry… you look like such a dick?
He faces as much as 20 years in prison. But first they should tell him he’s only serving two years — then increase his sentence to twenty years overnight just because they can. LOL! Fun.
Some of the fun evidence prosecutor Jacquelyn Kasulis brought to the table:
- A threatening letter he sent to the wife of a former employee
- Statements he sent to MSMB investors showing great returns at the same time he had no money in fund accounts
- Three versions of a backdated agreement to make it look as if MSMB Capital had invested in Retrophin when it had not, as well as claims about assets under management that were wildly out of line with his actual fund size.
“It’s time for Martin Shkreli to be held accountable,” she said.
Yeah, okay, the jury agreed.