Martin Shkreli is found guilty of fraud
- Author: Darren Santiago Aug 06, 2017,
Aug 06, 2017, 0:28
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. With this verdict, Shkreli has become the latest victim of federal tyranny.
Shkreli was convicted after being accused of misleading investors about how he was using their money.
Shkreli, 34, told "lies upon lies", including claiming he had $40 million in one of his funds at a time when it only had about $300 in the bank, Assistant US Attorney, Alixandra Smith said in closing arguments, reported AP.
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.
Attorney Ben Brafman made the claim during closing arguments in federal court in NY.
Matsumoto did not set a sentencing date.
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The Washington Post reveals that despite Shkreli's initial, shock-filled reaction, he's somehow seeing this as good news?
But Duca is far from the only person revelingin schadenfreude-including those upset over Shkreli's $2 million purchase of the only copy of Wu-Tang's Once Upon A Time In Shaolin.
Ms Duca complained to Twitter founder Jack Dorsey after discovering that Shkreli had downloaded dozens of photos of her and made them into a collage, also photoshopping himself over a picture of her husband and setting it as his profile picture.
"I think we are delighted in many ways", said Shkreli said outside of the courthouse. "They may have found some broomsticks". They found him weird. In this case, however, it wasn't increasing the price of the drug by 5,000 percent that got him in trouble.
Throughout his leadership of Rertrophin and the hedge funds (not to mention as CEO of Turing), Shkreli was not only guilty of fraud, but the most extreme arrogance.
"My case is a silly witch hunt perpetrated by self-serving prosecutors", he said on Facebook at one point.
A U.S. District Judge in Brooklyn will determine Shkreli's fate and could factor in his previous criminal record and seriousness of the crime.
"I'm going to focus not on what people say about me, I'm going to focus on how much more can I learn about medicinal chemistry", he said.