Shkreli lawyer's closing argument: 'There's something wrong with Martin Shkreli'

The 34-year-old was convicted of conspiracy to commit securities fraud and two counts of securities fraud by a 12-member jury who deliberated five days at a federal court in Brooklyn, New York.

Greebel is charged with conspiracy to commit wire fraud and conspiracy to commit securities fraud, the New York Law Journal (sub. req.) reported in a prior story.

"We're delighted in many ways with this verdict", Shkreli said at Friday's press conference following the verdict, noting that he's been acquitted of the "most important" charges.

"Get Martin", said Shkreli's lawyer, Benjamin Brafman.

That increase sparked outrage from U.S. lawmakers and patients, and earned Shkreli the nickname "Pharma bro". As he spoke, Shkreli smiled and cocked his head quizzically in mock confusion.

Die-hard Wu-Tang fans surely won't mind seeing this verdict, given how Shkreli's been waving around his multi-million dollar purchase for years.

Throughout the five-week trial, Shkreli defused some of the tension by live-streaming himself and his apartment for hours on Facebook. Prosecutors had a different take.

Shkreli was convicted Friday of three of eight counts against him.

In another example, the SEC says Shkreli lied to one of MSMB Capital Management's executing brokers about the fund's ability to cover a possible loss on a trade he wanted to make.

The federal trial "exposed Martin Shkreli for who he is really is - a con man who stole millions", said another prosecutor, Jacquelyn Kasulis.

When disgruntled investors attempted to claim their profits, Shkreli used money from other investors and Retrophin cash and stock to pay them off, according to prosecutors.

"Who lost anything? Nobody", Brafman said in his closing argument.

At 2:18 p.m., Judge Kiyo Matsumoto's clerk abruptly stood up, hung up a phone, and walked into the judge's chambers.

Shkreli also said that if he got any jail time, it would be at "club Fed", a term that describes low-security prisons with less harsh environments than other facilities.

He faces up to 20 years.

Shkreli, as the CEO of Turing Pharmaceuticals, is accused of unapologetically raising the price of anAIDS drug from $13.50 per pill to $750. Several potential jurors were kept off the panel after expressing disdain for the defendant, with one calling him a "snake" and another "the face of corporate greed".

Shkreli also opened up a new Twitter account following the verdict.

Prosecutors were focused on Shkreli's leadership of two hedge funds, MSMB Capital and MSMB Healthcare, and a pharmaceutical company, Retrophin.


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