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<h6><span style="color:#0a0101;"><strong>&#8216;Pharma Bro&#8217; Martin Shkreli guilty on three charges in federal fraud case</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>Shkreli, 34, is guilty of conning his hedge fund investors out of their money and then looting his pharmaceutical company to repay the fleeced investors, jurors decided friday.</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>He was convicted on two counts of security fraud in connection to hedge funds and a count of conspiracy to commit security fraud</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>He was cleared of five other charges.</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>Brooklyn federal jury said it didn&#8217;t matter fraud victims made profits on the pharmaceutical stock,when many just wanted their cash back</strong></span><br />
<span style="color:#0a0101;"><strong> </strong></span><br />
<span style="color:#0a0101;"><strong>The defendant&#8217;s lawyers always made sure jurors heard about the stock windfalls during the month-long trial</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>Faces up to 20 years in prison</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>Shkreli gained national notoriety and the monika &#8216;Pharma Bro&#8217; after he cornered the market for a vital AIDS drug in 2015</strong></span></h6>
<h6><span style="color:#0a0101;"><strong>He set a price hike that sent the price of the drug soaring more than 5000 percent overnight, and thumbed his nose at the public outra</strong>ge</span></h6>
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<h6><img class="alignnone size-full wp-image-228392" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-31.jpg" alt="Martin Shkreli 3.jpg" width="1200" height="812" /><strong>Former hedge fund manager Martin Shkreli, [center], was convicted on two counts of security fraud and conspiracy to commit security fraud.</strong></h6>
<p>Former hedge fund manager Martin Shkreli, [center], was convicted on two counts of security fraud in connection to hedge funds and a count of conspiracy to commit security fraud, Friday.<br />
A New York jury sitting in Brooklyn Federal Court, after clarifying the concept “fraudulent intent” from Judge Kiyo Matsumoto, came back after their 5-deliberation with a verdict finding Shkreli guilty of conning his hedge fund investors out of their money and then looting his pharmaceutical company to repay the fleeced investors.<br />
He was convicted on two counts of security fraud in connection to hedge funds and a count of conspiracy to commit security fraud. He was cleared of five other charges.<br />
With its guilty verdict, the Brooklyn federal jury said it didn&#8217;t matter fraud victims made profits on the pharmaceutical stock they got when many just wanted their cash back. The Pharma Bro&#8217;s lawyers always made sure jurors heard about the windfalls during the month-long trial.<br />
Shkreli, 34, now faces up to 20 years in prison, though any term would likely be much shorter. The jury deliberated for five days.<br />
Early in the trial, Shkreli was dismissive of prosecutors who characterized as &#8220;junior varsity&#8221; when he showed up in a press room to disparage the trial. Presiding Judge Kiyo Matsumoto barred him from discussing the case in and around the courthouse,after that provocative incident.</p>
<h6><strong><img class="alignnone size-full wp-image-228454" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-5.jpg" alt="Martin Shkreli 5" width="1200" height="800" />Martin Shkreli [center], seen during the trial says he never meant to swindle anyone and acted in good faith and in any case his investors made money</strong></h6>
<h6 class="ra-caption"><img class="alignnone size-full wp-image-228387" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-1.jpg" alt="Martin Shkreli 1.jpg" width="727" height="445" />Former pharmaceutical executive Martin Shkreli, aka &#8216;Pharma Bro&#8217;, outside the U.S. District Court in Brooklyn</h6>
<p>Shkreli gained national notoriety in 2015 for something else entirely. He instigated a price hike that sent the price of a vital AIDS drug soaring more than 5000 percent overnight, after he gained control of the drug&#8217;s manufacturer. In characteristic manner he reacted derisively with open smugness to the public outrage.<br />
Shkreli held himself out as a Wall Street wunderkind to his hedge fund investors, overblowing his schooling and skills, has now been convicted for something else entirely &#8211; his management of the hedge he founded called MSMB Capital, its related entities, and Retrophin, the company he founded to develop drugs for rare diseases.<br />
Prosecutors say his self promotion spin didn&#8217;t match the facts.<br />
The jury heard that self-styled maverick went deep in the red on a bad February 2011 market bet, but kept up appearances.<br />
Records showed multi-million dollar differences between what investors were told they were making and what was actually in the bank.<br />
In fall 2012, he announced he&#8217;d wind down his hedge funds to focus on Retrophin. He said investors could cash out their earnings, but the process dragged on. A number of investors ended with cash and stocks, which later ballooned in value.</p>
<h6 class="ra-caption"><img class="alignnone size-full wp-image-228395" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-4.png" alt="Martin Shkreli 4.png" width="687" height="372" />Never contrite: Shkreli, [center] believes he did nothing wrong, even after the jury convicted him on security fraud</h6>
<p>Shkreli paid back stiffed investors through Retrophin deals called settlement and consulting agreements. Steven Richardson, an early Shkreli investor and Retrophin chairman, said the board didn&#8217;t see the settlement agreements.<br />
Shkreli talked of possible male hook-ups and Richardson, who is gay, wondered if he was just saying it to somehow ingratiate himself. He described the talk they had about just being friends.</p>
<h6 class="ra-caption"><img class="alignnone size-full wp-image-228378" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-2.jpg" alt="Martin Shkreli 2.jpg" width="1200" height="800" />Martin Shkreli arrives at the U.S. District Court for the Eastern District on the fifth and final day of Jury deliberations</h6>
<p>The defense confronted Richardson, 63, with his emails discussing Shkreli&#8217;s &#8220;soft skin&#8221; and the Pharma Bro&#8217;s dip in a bubble bath. The comments related to Shkreli&#8217;s health, Richardson insisted.<br />
When witnesses talked about Shkreli, they depicted a driven, brilliant young man who could impress and persuade &#8211; and also talk tough if angry or irritated, in one instance Shkreli scared the wife of an ex-employee when he vowed to make the woman and her family homeless.<br />
At the end of the month-long trial summation was no less fierce. Prosecutors said Shkreli, was a calculating con artist who sweet-talked investors. He lied and played a shell game to prop up his failing funds and fledgling pharmaceutical company, they said.<br />
Ben Brafman and the defense team told the jury their client is &#8216;a genius wrapped up in his own mind as he built up his pharmaceutical company&#8217;, who made good faith efforts to get his investors profits. And they definitely got profits in the end, his lawyers said.<br />
&#8220;Who lost anything? Nobody,&#8221; defense attorney Brafman told jurors.</p>
<h6 class="ra-caption"><img class="alignnone size-full wp-image-228376" src="https://konniemoments.com/wp-content/uploads/2017/08/martin-shkreli-5.png" alt="Martin Shkreli 5.png" width="761" height="381" />Former pharmaceutical executive Martin Shkreli addresses media flanked by his lawyer Ben Brafman [right], outside the U.S. District Court for the Eastern District.</h6>
<p>During the trial, it came out that Shkreli&#8217;s lawyers and prosecutors had several discussions about a plea agreement up until around June. Shkreli was not interested in a plea deal, Brafman said.<br />
White shoe lawyer Evan Greebel was also charged in the case, but he opted for a separate trial, beginning October.<br />
Greebel fought hard for his own trial, for fear worried jurors would be biased by his link to Shkreli.</p>
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Martin ‘Pharma Bro’ Shkreli guilty on three charges in federal fraud case – robbed his hedge fund investors, then looted his pharmaceutical company to repay fleeced investors
