Martin Shkreli, ‘Pharma Bro,’ convicted at securities fraud trial

NEW YORK (AP) — Martin Shkreli, the eccentric former pharmaceutical CEO notorious for a price-gouging scandal and for his snide “Pharma Bro” persona on social media, was convicted Friday on federal charges he deceived investors in a pair of failed hedge funds.

A Brooklyn jury deliberated five days before finding Shkreli guilty on three of eight counts. He had been charged with securities fraud, conspiracy to commit securities fraud and conspiracy to commit wire fraud.

Prosecutors had accused Shkreli of repeatedly misleading investors about what he was doing with their money. Mostly, he was blowing it with horrible stock picks, forcing him to cook up a scheme to recover millions in losses, they said.

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 U.S. Attorney Alixandra Smith said in closing arguments. The trial “has exposed Martin Shkreli for who he really is — a con man who stole millions,” added another prosecutor, Jacquelyn Kasulis.

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  • DBN ✓The Naked Fascist

    If being a douche were illegal, he’d be doing a life sentence.
    Hopefully he goes away for a decade.

    • (standing ovation)

      That man is punchable.

      • Drunk by Noon

        There should be douche intervention programs for young at-risk douches, and for the recidivists, a douche rehab facility.
        For the most reprobate, harsh sentences at the bro-farm.

        • Sir, I applaud your scathing of douches everywhere.

          My hat, as it were, is off to you.

  • Gary

    ” Federal charges he deceived investors in a pair of failed hedge funds. ”

    Holy Clinton Foundation Batman.

    Hillary took Millions from the OPEC Nations and the Russians that got a sweet Uranium deal . They were lied to that she would Win the 2016 Election and get them huge bags of money in Contracts plus fraud scheme with Trillions of Debt dollars that would make Obama fraud for Solyndra’s $500,000,000.00 payoff to those that git him elected look like pocket change .

    What I find dangerous right now for all the corruption under Obama’s reign and prior to his win is that the Communist and islamists will hijack this to push their version of Utopia as the answer . The useful-idiots on campus will buy their snake-oil and rebel but this will trigger a Civil war to raze every Mosque and kill every SJW.

    Oh wait…… Hmmm, no mosques or SJW . Scratch that last paragraph.

  • Suz

    Hope this maggot gets jail time and only the best treatment by his cellmates.

  • lolwut? (Deplorable Hoser)

    Lauren Southern and Casandra Fairbanks are defending him on Twitter.

    Young, female and stupid.

    https://twitter.com/Lauren_Southern/status/893570749155336194

    https://twitter.com/CassandraRules/status/893546213383000064

    Top reply

    “You do know that Ted Bundy was extremely charming, right? Not only his girls, but their mothers adored him when they met him.”