Jury Convicts Martin Shkreli On Three Counts of Securities Fraud

THE SECURITIES FRAUD TRIAL OF PHARMA BRO MARTIN SHKRELI.
HE IS GUILTY ON THREE COUNTS. AND BEFORE WE GO ON, IT IS
IMPORTANT TO MAKE A DISTINCTION HERE.
YOU WILL REMEMBER HIM FOR DRASTICALLY INCREASING THE PRICE
OF A DRUG CALLED DER APRIM, PUSHING THE PRICE FROM $13.50 TO
$750 PER PILL, MAKING IT UNAFFORDABLE FOR MANY OF THE
PREGNANT WOMEN, BABIES AND OTHER PEOPLE INFECTED WITH HIV WHO
PRIMARILY USED THE DRUG. THAT IS NOT WHAT THIS TRIAL WAS
ABOUT. INSTEAD, THIS TRIAL WAS ABOUT
WHAT PROSECUTORS CALLED A PONZY LIKE SCHEME TO DEFRAUD INVESTORS
IN A PAIR OF FAILED HEDGE FUNDS. MARTIN SHKRELI JUST SPOKE AT A
PRESS CONFERENCE WITH HIS LAWYERS.
HERE IS WHAT HE SAID TO SAY. >> THANKS VERY MUCH.
I THINK BEN SAID IT ALL. YOU KNOW, WE'RE, I THINK, DLATD
IN MANY WAYS WITH THIS VERDICT. COUNT P 7 WAS THE GOVERNMENT'S
ATTEMPT TO THEORIZE THAT I ROBBED PETER TO PAY PAUL, AND
THE JURY HAS SPOKEN CONCLUSIVELY THAT THEY WERE NOT DEFRAUDED IN
THIS CASE. MY INVESTORS MADE THREE TO FIVE
TIMES OF THEIR MONEY. SOME MADE TEN TIMES OR MORE THAN
THAT OF THEIR ORIGINAL INVESTMENT AFTER THEY DID
RECEIVE SETTLEMENTS. I'M DLATD THE JURY DID THEIR
JOB. THEY SAW THE FACTS AS THEY WERE,
AND MOST IMPORTANTLY, I'D LIKE TO THANK BEN, GREATEST LAWYER ON
THE PLANET, WHO TOOK A RISK ON ME AND PAID OFF.
THANK YOU VERY MUCH, BEN. AND MARK, WHO IS A GREAT SUCCESS
AS A LAWYER, IS EXTREMELY NOTE WORTHY AND CONTINUED WITH THIS
CASE. AND OF COURSE, PENNY JACOB AND
ANDREA WHO WORKED AROUND THE CLOCK TO GET THESE FIVE NOT
GUILTY VERDICTS. AS TO THE THREE, AS MARK SAID,
WE HAVE SOME WORK TO DO. I THINK THAT THE JURY HAS FOUND
AND IT'S IN THE RECORD, CLEARLY, THAT THERE WERE NO LOSSES AT ALL
WITH RESPECT TO COUNTS 3 AND 6, WHICH GRAT FIEZ ME PERSONALLY.
WHICH WAS A WITCH-HUNT OF EPIC PROPORTIONS AND MAYBE THEY FOUND
ONE OR TWO BROOM STICKS, BUT AT THE END OF THE DAY WE'VE BEEN
ACQUITTED OF THE MOST IMPORTANT CHARGES OF THIS CASE AND I'M
DELIGHTED TO REPORT THAT. >> APPROXIMATE IF YOU HAVE ANY
QUICK QUESTIONS -- >> OKAY.
THAT IS 2017. THAT'S THE WORLD WE'RE IN.
YOU'RE CHARGED WITH EIGHT COUNTS.
YOU'RE FOUND GUILTY OF THEM. YOU'RE NOT FOUND GUILTY OF FIVE
OF THEM AND IT IS A GREAT DAY FOR YOU IN COURT.
THE THREE THAT MARTIN SHKRELI HAS BEEN FOUND GUILTY OF ARE NOT
THREE TO SNEEZE AT. SECURITIES FRAUD, SECURITIES
FRAUD AND CONSPIRACY TO COMMIT SECURITIES FRAUD.
THESE AREN'T LITTLE MATTERS. FOR THE LATEST ON THIS I WANT TO
GO TO NBC NEWS JOE CAT WHO HAS BEEN FOLLOWING THIS STORY FOR US
AND OF COURSE THE DISTINCTION FOR MOST PEOPLE IS HE'S KNOWN
FOR ONE THING, THE PHARMA BRO STUFF, THE STICKING, POKING HIS
FINGER IN THE EYES OF LEGISLATORS AND LAWMAKERS BUT
THIS IS SOMETHING DIFFERENT ALL TOGETHER.
>> YEAH. THIS IS REALLY ABOUT COMMITTING
SECURITIES FRAUD. AS YOU MENTIONED, THERE ARE
THREE HE'S BEEN DETERMINED GUILTY, CONSPIRACIES TO COMMIT
SECURITIES FRAUD AND THEN TWO COUNTS OF SECURITIES FRAUD AS
WELL. HE SAYS, THOUGH, THAT HE IS VERY
DELIGHTED BY THIS. THEY HAVEN'T NECESSARILY SAID
WHAT THEY'RE GOING TO DO WITH THE OTHER FIVE CHARGES, BUT HE
SAYS THAT THIS HAS BEEN A WITCH-HUNT OF EPIC PROPORTIONS
AND CERTAINLY HE HAS BEEN STIRRING UP QUITE A CONTROVERSY
HERE, NOT JUST WITH THE DER APRIM CASE BUT ALSO WITH THE
SECURITY FRAUDS. AND YOU HAVE TO REMEMBER, THIS
IS A CASE THAT WAS ABOUT DUPG MULTIPLE INVESTORS, MILLIONS OF
DOLLARS INTO NOW DID HE FUNGT HEDGE FUNDS THAT HE RAN, ALI.
>> ALL RIGHT. SO EVERYBODY, EACH ONE TO THEIR
OWN, BUT IF ONE DAY YOU'RE COVERING THIS NEWS AND I GET
CONVICTED OF CONSPIRACY TO COMMIT SECURITIES FRAUD AND TWO
COUNTS OF SECURITIES FRAUD AND I SAY THAT I'M DELIGHTED, YOU'RE
WELCOME TO USE THE LETTERS

Jury Convicts Martin Shkreli On Three Counts of Securities Fraud | MSNBC

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