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Martin Shkreli is convicted of fraud

Staff Writer |
Former drug company executive Martin Shkreli was convicted of securities fraud by jurors in a U.S. court in Brooklyn, after a highly publicized, monthlong trial.

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Federal prosecutors had accused the 34-year-old of defrauding investors in his hedge funds and stealing from his old drug company, Retrophin, to pay them back.

Jurors found Shkreli guilty on two counts of securities fraud and one count of conspiracy, on the fifth day of deliberations. Shkreli was also found not guilty on five other conspiracy counts.

Before going on trial, Shkreli had been best known for raising the price of anti-infection drug Daraprim by 5,000 percent in 2015 as chief executive of Turing Pharmaceuticals

That increase sparked outrage from U.S. lawmakers and patients, and earned Shkreli the nickname "Pharma bro."


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