Martin Shkreli: Convicted Of Fraud

    One of Hip Hop’s most notorious proponents in recent years, “Pharma Bro” Martin Shkreli, was found guilty of fraud on Friday (August 4).

    According to MSN, a Brooklyn jury deliberated for five days before finding Shkreli guilty on three counts. Shkreli was facing eight counts in total, ranging from securities fraud and conspiracy to commit securities fraud to conspiracy to commit wire fraud.

    Prosecutors accused Shkreli of repeatedly misleading investors about what he was doing with their money. The Brooklyn native infamously spent $10,000 on JAY-Z tickets and $2 million on Wu-Tang’s album, Once Upon A Time In Shaolin.

    In their closing arguments, Assistant U.S. Attorney Alixandra Smith said Shkreli told “lies upon lies,” while another prosecutor, Jacquelyn Kasulis, said the trial “has exposed Martin Shkreli for who he really is — a con man who stole millions.”

    Shkreli’s lawyer Benjamin Brafman portrayed his client as a brilliant misfit who made his investors richer. He reportedly said Shkreli never intended to defraud anyone, and referred to him as an “honest kid.”

    In 2014, Shkreli bought the rights to a life-saving drug and promptly raised the price from $13.50 to $750 per pill. After expressing their true feelings towards the defendant, several potential jurors were kept off the panel. One referred to Shkreli as a “snake” and another “the face of corporate greed.”

    Shkreli was arrested in 2015 on charges he stole $11 million in stock and cash from another drug company he founded, Retrophin. He reportedly used the money to pay back the hedge fund investors, who took the witness stand on Friday to accuse Shkreli of not disclosing what was happening behind the scenes at the time.

    More recently, Shkreli reportedly infuriated Lil Wayne after leaking snippets of Wayne’s long-awaited album — Tha Carter V — in May. In turn, Weezy threatened to sue Shkreli.

    Although Shkreli didn’t testify in his frauds case, he took to Facebook to slam prosecutors and news outlets covering his case. “My case is a silly witch hunt perpetrated by self-serving prosecutors,” he wrote in a recent post. “Drain the swamp. Drain the sewer that is the (Department of Justice.)”

    45 thoughts on “Martin Shkreli: Convicted Of Fraud

    1. OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

    2. $13.50 to $750… He indirectly killed many ppl with that bullshit. Fuck this guy, may he rot in prison. He’s rich as shot so I’m guessing he’ll be untouched while he’s in there, but he deserves a good ol fashioned train run on him.

      1. Anyone who couldn’t afford the medication got it for free. That’s what the media didn’t tell people. But he was legally obligated to raise the price that high, he had investors to his company that he is legally obligated to make the most money possible, and after running an economic supply and demand curve, it was determined that the greatest possible profit would be derived at $750. He did what he was legally obligated to do, I hate how the media made him out to be some scumbag.

        1. Your answer is what’s wrong with the system. These things should have no place when it comes to health care. Fuck the investors, it’s about what is right and wrong and pricing out poor and sick ppl is disgusting. One reason insurance companies raise their prices is because drugs are way too expensive. So if someone has a condition that requires that pill (or any other) they either get 0 coverage or the price is jacked up. And even if ppl get the pill free, the hospitals don’t so somewhere along the line the price is fucking up the system. Someone has to pay for it, so whether you feel it or not, someone is taking the hit and screwing up the system.

        2. You hate how the media made him out to be a scumbag?? He is a scumbag with videos to prove it. Martin Shkreli is a dickhead and he made himself look like that not the media smh.

    3. I’m proud to be black, but no lie I love white women. If a fine black woman and a fine white woman wanted me equally, I’d choose the white broad. Sad, but that’s the reality of it. Trying to change but it’s hard.

      1. You call people idiots but can’t even spell ‘convicted’ properly. What a hypocritical douche!

    4. Glad this creepy little homo is getting time but in reality he will get a very light sentence, which makes this a joke

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