Proof that you rarely get convicted of a crime when it’s not against the very wealthy, “Pharma Bro” Martin Shkreli, the man who bought the drug Daraprim, which is used on cancer patients, and jacked the price up 5000% – making it unaffordable – has been found guilty on 3 of 8 federal charges of fraud moments ago, according to sources which include The Guardian.
The Guardian reports:
Shkreli, 34, was convicted of two counts of securities fraud relating to charges that he lied to investors while sweet-talking them into pumping more capital into his failing hedge funds, and one count of conspiracy. But he was cleared of defrauding Retrophin, his former biotech company, which he was accused of illegally raiding for assets to reimburse skeptical investors who wanted their money back.
Upon the verdict, the Pharma Bro, once called the “most hated man in America,” decried “witch hunt,” as he now faces up to 20 years behind bars.
Sentencing to come.
“Maybe they found one or two broomsticks but at the end of the day we’ve been acquitted of the most important charges in this case.”
Martin Shkreli following the court’s verdict