Home Culture Culture News

Martin Shkreli: Jury Selection Begins in ‘Pharma Bro’s’ Federal Fraud Trial

‘Most hated man in America’ faces up to 20 years in prison if convicted in a court trial that begins this week

Pharma bro, Martin Shkreli, Martin Shkreli punchable face, Martin Shkreli going to jail, Martin Shkreli trial, Martin Shkreli fraud, Martin Shkreli, Martin Shkreli prison, Martin Shkreli face,

'I can't wait,' said Martin Shkreli about starting his trial for fraud.

Kevin Hagen/Getty

It’s been almost two years since Martin Shkreli – who some consider “the most hated man in America” – was arrested on securities fraud and wire fraud charges. As the CEO of Retrophin and owner of hedge funds Elea Capital, MSMB Capital and MSMB Healthcare, Shkreli allegedly used the biotech company’s assets in a “Ponzi-like” scheme to pay off investors, robbing them of more than $11 million between 2009 and 2014.

While Shkreli was released on a $5 million bond at the time, he now faces up to 20 years in prison if convicted in a court trial that begins this week.

“I’m excited,” Shkreli recently said about the trial. “I can’t wait.”

Shkreli first became a household name in 2015 when his company Turing Pharmaceuticals raised the price of Daraprim, a drug used by HIV and cancer patients to treat potentially deadly parasitic infections, by 5,000 percent from $13.50 per tablet to $750. According to the the Los Angeles Times, doing so went from costing costing patients as little as $1,130 for their treatment to as much as $634,000 depending on their diagnosis. Shkreli said he would reduce the price of Daraprim following weeks of public outcry, but he later walked back on his promise. Since then he has managed to keep his name in the headlines, although it has less to do with his business practice and more for things like for spending two million dollars on a one-of-a-kind Wu-Tang Clan record and getting suspended from Twitter for harassing a journalist. 

Shkreli isn’t facing any charges to do with Daraprim. Instead, the trial in Brooklyn, New York focuses on the losses he covered up at his hedge funds, which he has pleaded not guilty to. According to NBC News, as many as 57 witnesses are expected to be called by prosecutors and the trial could last for up to six weeks. 

Show Comments

Newswire

Powered by
Close comments

Add a comment