The infamous “Pharma Bro” has been convicted on three counts of felony fraud and conspiracy.
Martin Shkreli, one of the more villainous antagonists in Hip Hop, has been been found guilty in a New York court.
Per MSN, a Brooklyn jury has found Shkreli guilty of three counts after five days of deliberation. Shkreli was facing eight total counts, including securities fraud and conspiracy, commit securities fraud and conspiracy to commit wire fraud.
Prosecutors accused Shkreli of habitually misleading countless investors in regards to how their money was being spent. The Brooklyn-born Shkreli infamously shelled out $10,000 for JAY-Z tickets and $2 million on Wu-Tang Clan’s latest album, Once Upon A Time In Shaolin.
During closing arguments, Assistant U.S. Attorney Alixandra Smith, claimed Shkreli told “lies upon lies,” while another prosecutor, Jacquelyn Kasulis, stated that the trial “has exposed Martin Shkreli for who he really is — a con man who stole millions.”
Shkreli’s attorney, Benjamin Brafman, attempted to portray his client as an ingenious misfit who made money for his investors. He also claimed Shkreli never meant to defraud anyone, and referred to his client as an “honest kid.”
In 2014, Shkreli purchased the rights to a life-saving drug and immediately raised the price from $13.50 to $750 per pill. After expressing their true feelings towards the defendant, many potential jurors were removed from the selection panel. One bluntly referred to Shkreli as a “snake”, and another called him “the face of corporate greed.”
Shkreli was arrested in 2015, charged with theft of $11 million in stock and cash from another pharmaceutical company he started, called Retrophin. He then used the money to pay back his hedge fund investors. Those investors took the witness stand Friday and accused Shkreli of not disclosing what was actually happening with their money at the time.