"The most despised businessman" convicted of fraud

Martin Shkreli Photo: Facebook Martin Shkreli

Entrepreneur, ex-head Turing Pharmaceuticals and Retrophin Martin Shkreli, who was nicknamed “the most despised US businessman,” was found guilty of fraud.

According to CNN, the 34-year-old businessman was charged with eight counts. As a result, a jury of five days of discussion found him guilty in three counts, including securities fraud and conspiracy to do so. The sentence to the businessman will be passed later.

Shkreli faces up to 20 years in prison. Lawyer Shkarkli Benjamin Brufman intends to appeal.

The court considers that Shkreli has deceived investors for a number of years and used fraudulent schemes, withdrawing 11 million dollars from his own company. Retrophin. The American, together with lawyer Evan Gribel, organized a shell fund MSMB Capital Managementthrough which he made secret payments, entered into illegal transactions and contracts. The company began to incur losses that the man covered with money Retrophin Inc.

Recall Shkreli became known in the United States after he began to buy out old patents for drugs and sharply raise the price on them. The company he headed is Turing Pharmaceuticals - caused a scandal by buying a patent for an HIV / AIDS drug and raising its price from 13,5 dollars to 750 dollars per package.

Shkreli is also known for extravagant outrages in public - so his account has been deleted. Twitter for harassment of a journalist. In the past, Shkreli bought for the 2 a million dollars group album Wu-Tang Clan for own use, and then made public on the Internet.

Read also on ForumDaily:

How scammers in Miami-Dade cranked a billion-dollar scheme with Medicare

A fraudster in New York lured $ 1,8 million from real estate investments from elderly people

More 400 people are accused of medical insurance fraud

Police warned of an increase in cases of virtual kidnapping

How to avoid becoming a victim of fraud at the gas station

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.