The "most hated man in America" just got a taste of the U.S. justice system. Martin Shkreli, unaffectionately known as the "pharma bro"and infamous for his decision to hike the list price of Daraprim, a drug used by HIV/AIDS and cancer patients to combat infections, by more than 5,000% in 2015 under his former company Turing Pharmaceuticalswas convicted on three criminal securities fraud and conspiracy charges by a Brooklyn jury on Friday. He had been indicted on eight wire and securities fraud counts by federal prosecutors and could face years in prison after sentencing. The trial took more than a month and jury deliberations stretched out over the course of this week. Strikingly, for all the media attention on the case (propagated by Shkreli's troll-y Twitter antics and relish for stirring the pot), the trial verdict had nothing to do with the drug price hike that thrust him into the national limelight. That was entirely legalrather, the charges against Shkreli centered on him allegedly bilking his other former drug company Retrophin to repay defrauded investors of separate hedge funds that he also ran. (Shkreli was acquitted on some of the more serious wire fraud charges levied against him.) But the … Continue reading
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