Page 29 - Martin Shkreli Case Study

Martin Shkreli Court Case Outcome

A perfect villain

“Is he strange? Yes,” the defense attorney Benjamin Brafman

told the jurors in federal court in Brooklyn. “Will you find him
weird? Yes. But Martin Shkreli, despite all his flaws and

dysfunctional personality, is brilliant beyond words.” (1)

Martin Shkreli, 35 years (born on the April 1 1983) old
former CEO and hedge fund manager who had been

charged with eight counts of securities and wire fraud was

found guilty on three of those charges including conspiracy
to commit securities fraud. Shkreli had maintained his

innocence throughout his arrest and trial.

In a separate case Shkreli faces a law suit brought by
Retrophin for $65 million.

“Robert Capers, then-U.S. Attorney for the Eastern District of

New York, said in a statement. “His plots were matched only by
efforts to conceal the fraud, which led him to operate his

companies, including a publicly traded company, as a Ponzi

scheme, where he used the assets of the new entity to pay off
debts from the old entity.”” (2)

The charges against Shkreli were however, not related to

his time at Turing. Prosecutors claimed “Shkreli and

Greebel used a series of settlement and sham consulting

agreements that resulted in Retrophin and its investors

suffering a loss in excess of $11 million.” (2)