Drug CEO buys old drug hikes price by 5000%

DrLudicrous · Dec 18, 2015

JuanValdez said: ↑

Not sure what's stupid about that. He hasn't been convicted of anything, so it'd be a little inappropriate for the feds to go around seizing his stuff just because. If it was evidence for a trial, like a computer with records of his malfeasance, that'd make sense to seize at this point. Later, when he's convicted, the court can force him to liquidate his assets to pay restitution.
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I think it's kind of dumb that the FBI is tweeting about an album at all. Leave that type of stuff to TMZ.

TheresTheDagger · Dec 18, 2015

http://www.wsj.com/articles/turing-...to-replacing-martin-shkreli-as-ceo-1450454741

Turing Pharmaceuticals Replaces Martin Shkreli as CEO

Martin Shkreli resigned as chief executive of Turing Pharmaceuticals on Friday, as allegations of fraud during his time as a hedge-fund manager collided with his more recent role of controversial drug-company executive.

Mr. Shkreli aggressively sought the limelight as he waged a public battle with critics of his decision to dramatically increase the price of a lifesaving drug. But he simultaneously was carrying a troubling secret: Prosecutors were digging into alleged impropriety at a pair of failed hedge funds.

His public bombast—he once tweeted: “it seems like the media immediately points a finger at me So I point one back at em, but not the index or pinkie,”—ultimately led authorities to make more of a showing of his undoing. Securities regulators prioritized their pursuit of what had been a run-of-the-mill civil securities-fraud case because of his attention-getting, and prosecutors planned a very public rollout of the case, people familiar with the matter said.
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JeffB · Dec 19, 2015

The Feds should play his Wu-Tang album over the Internet.

DCkid · Jan 28, 2016

JeffB said: ↑

The Feds should play his Wu-Tang album over the Internet.
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Martin Shkreli Releases Insane Ghostface Killah Diss Video

I wonder how everything will end for this guy.

JuanValdez · Jan 28, 2016

Lol, this guy is such a trainwreck.

LosPollosHermanos · Jan 28, 2016

wtf did I just watch

pirc1 · Jan 28, 2016

JuanValdez said: ↑

Lol, this guy is such a trainwreck.
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Makes you wonder how he got to be the CEO of a drug company.

HamJam · Jan 28, 2016

pirc1 said: ↑

Makes you wonder how he got to be the CEO of a drug company.
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The fact that capitalism allows buffoons like him to run a company is one of the best indictments against it as a viable economic system. Idiots like this guy or Donald Trump are born on third base and think they hit a triple, and then proceed to spew their bile onto the world like a modern day Commodus.

percicles · Jan 28, 2016

HamJam said: ↑

The fact that capitalism allows buffoons like him to run a company is one of the best indictments against it as a viable economic system. Idiots like this guy or Donald Trump are born on third base and think they hit a triple, and then proceed to spew their bile onto the world like a modern day Commodus.
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His parents were Albanian/Croatian immigrants who worked as janitors. That's not even first base.

Trump though, yeah.

TheresTheDagger · Aug 4, 2017

http://money.cnn.com/2017/08/04/news/martin-shkreli-verdict/index.html

Martin Shkreli convicted of securities fraud, conspiracy

Martin Shkreli, who gained national notoriety two years ago for jacking up the price of an AIDS drug, was convicted of securities fraud Friday for mismanaging two investment funds.
A jury in Brooklyn deliberated almost five days before returning guilty verdicts against Shkreli, 34, on two counts of securities fraud and a single count of conspiracy. He was acquitted on five other counts of conspiracy.

The most serious count, securities fraud, carries a maximum prison term of 20 years.

When the first guilty verdict was delivered, Shkreli looked to his right with a surprised smirk. Outside, he called his prosecution "a witch hunt of epic proportions," and he focused on the acquittals. "Maybe they found one or two broomsticks," he said.

Barely an hour after the verdict, he was livestreaming on YouTube from his apartment and predicting that the sentence would be "close to nil."

Shkreli's lawyer, Benjamin Brafman, raised the prospect of an appeal and said the verdict would give the court "enormous discretion" on sentencing. No sentencing date was set.

Federal prosecutors accused Shkreli of cheating investors out of more than $11 million between 2009 and 2014 in what amounted to a Ponzi scheme.

They said he mismanaged money at the investment funds Elea Capital, MSMB Capital and MSMB Healthcare, as well as while he was CEO of Retrophin (RTRX), a pharmaceutical company he founded in 2011.

Prosecutors argued that he lied to investors at MSMB Capital and MSMB Healthcare about how well the funds were doing, and that he used money from Retrophin as a piggy bank to pay off MSMB investors, and to cover personal loans and other debts.

Brafman framed his client as an oddball genius who ultimately made his investors richer. He said that Shkreli never intended to defraud anyone, and called him an "honest kid."

Shkreli drew national scorn two years ago when, as the CEO of Turing Pharmaceuticals, he unapologetically raised the price of an AIDS drug from $13.50 per pill to $750. That episode is unrelated to the fraud case.

The Daily Beast named him the "most hated man in America." He defended the price hike, claiming that his company needed to profit from the drug. He also said that everyone who needs it would be able to afford the drug, Daraprim.

After his indictment, Shkreli used Twitter and Periscope to livestream himself playing video games in his pajamas and chronicle trips around New York to about 200,000 followers.

In January of this year, he was kicked off Twitter and Periscope after making unwanted advances toward a magazine editor. He kept up his use of social media throughout the trial, posting videos on Facebook despite efforts by prosecutors and his own lawyer to keep him quiet.

"My case is a silly witch hunt perpetrated by self-serving prosecutors," he said on Facebook at one point. "Thankfully my amazing attorney sent them back to junior varsity where they belong. Drain the swamp. Drain the sewer that is the DOJ. MAGA."
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London'sBurning · Aug 4, 2017

TheresTheDagger said: ↑

http://money.cnn.com/2017/08/04/news/martin-shkreli-verdict/index.html

Martin Shkreli convicted of securities fraud, conspiracy
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No surprise he's a Trump supporter.

FranchiseBlade · Aug 4, 2017

TheresTheDagger said: ↑

http://money.cnn.com/2017/08/04/news/martin-shkreli-verdict/index.html

Martin Shkreli convicted of securities fraud, conspiracy
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That is great news. It couldn't happen to a more deserving person.

calurker · Aug 4, 2017

Trust the free market. If the price of the drug is too high, people will simply choose to not get sick and buy big screen TVs instead.

TheresTheDagger · Mar 9, 2018

Karma does its thing...

http://money.cnn.com/2018/03/09/news/martin-shkreli-sentencing/index.html

Martin Shkreli sentenced to 7 years in prison for fraud

Martin Shkreli was sentenced to seven years in prison on Friday for defrauding investors out of more than $10 million.
Shkreli, who gained notoriety for inflating the price of a life-saving drug, had faced up to 20 years behind bars for mismanaging money at his hedge funds.

He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme. Shkreli called the charges "a witch hunt of epic proportions."

During his sentencing on Friday in Brooklyn federal court, Shkreli, 34, broke into tears and pleaded with the judge for leniency.

"I look back and I'm embarrassed and ashamed," he told the court. "I am terribly sorry," he said to his investors, "I lost your trust."

"There's no conspiracy to take down Martin Shkreli. I took down Martin Shkreli with my disgraceful and shameful actions."
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JuanValdez · Mar 9, 2018

He could have gotten 20. And I still wouldn't have felt sorry for him.

Btw, clicking on page 8 of this thread gave me a warning saying that spurstalk might try to scam me. I don't even see a link to spurstalk in here. Weird.

Buck Turgidson · Mar 9, 2018

JuanValdez said: ↑

Btw, clicking on page 8 of this thread gave me a warning saying that spurstalk might try to scam me. I don't even see a link to spurstalk in here. Weird.
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Same here.

conquistador#11 · Mar 9, 2018

Is he the same dude that had the wu tang clan make an album exclusively for him?

Wu tang! Wu tang, forever!

KingCheetah · Mar 9, 2018

JuanValdez said: ↑

Btw, clicking on page 8 of this thread gave me a warning saying that spurstalk might try to scam me. I don't even see a link to spurstalk in here. Weird.
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I got the same warning... @Clutch?

Clutch · Mar 9, 2018

JuanValdez said: ↑

He could have gotten 20. And I still wouldn't have felt sorry for him.

Btw, clicking on page 8 of this thread gave me a warning saying that spurstalk might try to scam me. I don't even see a link to spurstalk in here. Weird.
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A post by one of the users embedded a smilie image from that site, and Google apparently doesn't like them very much. I've removed it and should be good now.

IBTL · Dec 21, 2020

this dude is no brad pitt and he gets a journalist to divorce her husband and wait for him. shes not terrible looking either.

we get railed on for it that most guys like chicks in american flag string bikinis ...and some girls like guys that are in prison
sickly looking..some kind of exciting outlaw bad boy type. famous people too. women and the type of guys they go for.. i find it curious how some good guys cant get laid and this guy has tail waiting for him when he gets out

"
The Journalist and the Pharma Bro
Why did Christie Smythe upend her life and stability for Martin Shkreli, one of the least-liked men in the world?

https://www.elle.com/life-love/amp35021224/martin-shkreli-christie-smythe-pharma-bro-journalist

"

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