Martin Shkreli: Convicted Of Fraud

HipHop News Posted on August 4, 2017 at 6:47am

Martin Shkreli: Convicted Of Fraud

Prosecutors called him "a con man who stole millions of people."

Brooklyn, NY – One of Hip Hop's most notorious proponents in the last few years, "Pharma Bro" Martin Shkreli, was found guilty of fraud on Friday (4 August).

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

Prosecutors accused Shkreli of repeatedly misleading investors about what he was doing with his money. The Brooklyn born, infamous went up $10,000 of JAY-Z and tickets are $2 million Wu-Tang album, once Upon a Time In Shaolin.

In their closing arguments, the Assistant united states Attorney Alixandra Smith said Shkreli said, "lies on lies", while another prosecutor, Jacquelyn Kasulis, said the process", said Martin Shkreli for what it really is — a con man who stole millions of people."

Shkreli attorney Benjamin Brafman portrayed their client as a brilliant misfit who made his investors rich. According to reports, said Shkreli never intended to defraud anyone, and referred to him as a "honest child".

In 2014, Shkreli bought the rights to a life saving drug and promptly raised the price from $13.50 to $750 for the pill. After expressing her true feelings toward the defendant, several potential jurors were kept out of the panel. One refers to Shkreli as a "snake" and the other "face of corporate greed."

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

More recently, Shkreli reportedly furious at Lil Wayne after the escape of fragments of Wayne's long-awaited album Tha Carter V in May. In turn, Weezy threatened to sue Shkreli.



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