Martin Shkreli has been convicted of fraud
Martin Shkreli is a douche. Even he knows it. The infamous businessman who once hiked the price of a critical AIDS drug Daraprim by more than 5000 per cent, has been convicted of fraud and is awaiting sentencing.
Daraprim, which is used to treat rare parasitic infections in AIDS patients, went from costing $13.50 to $750 per pill in 2015, when Shkreli was at the helm of Turing Pharmaceuticals.
Thanks to this move, Shkreli became well-known as the “most hated man in America”, and later in 2015 the hedge-fund entrepreneur and drug-company C.E.O was accused of defrauding investors in MSMB Capital Management, his former hedge fund, and stealing stock from shareholders.
The news was met with glee (from people like me), and when brought to trial it was reportedly a struggle to find jurors who could be impartial about him. One potential juror called him the “face of corporate greed”.
After a trial that lasted over a month, Shkreli was found guilty on three of eight charges, including convictions of securities fraud and conspiracy to commit both securities fraud and wire fraud.
Outside of the court house yesterday, he said: "This was a wtich hunt of epic proportions, and maybe they found one or two broomsticks, but at the end of the day, we've been acquitted of the most important charges."