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mobeau69

(11,079 posts)
Fri Aug 4, 2017, 02:48 PM Aug 2017

'Pharma bro' Martin Shkreli convicted in federal fraud case, found guilty of 3 counts

Source: CNBC

A federal jury found notorious "Pharma bro" Martin Shkreli guilty of multiple criminal charges Friday.

Shkreli, 34, was convicted of some of the eight criminal counts that he had faced, which had included securities fraud and conspiracy to commit both securities fraud and wire fraud, after a more-than-month-long trial in Brooklyn, New York, federal court.

He faces years in prison when he is sentenced.
.......

The charges were unrelated to Shkreli's first claim to public notoriety: raising the price of an anti-parasite drug called Daraprim by more than 5,000 percent in 2015, while heading another company, Turing Pharmaceuticals.

Read more: https://www.cnbc.com/2017/08/04/pharma-bro-martin-shkreli-convicted-in-federal-fraud-case.html



58 replies = new reply since forum marked as read
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'Pharma bro' Martin Shkreli convicted in federal fraud case, found guilty of 3 counts (Original Post) mobeau69 Aug 2017 OP
What a horrible excuse for a human being. FM123 Aug 2017 #1
Let's see if he's smirking now jpak Aug 2017 #2
Oh, He'll Keep Smirking Doug the Dem Aug 2017 #13
Just saw the report on MSNBC WinstonSmith4740 Aug 2017 #15
Club Fed is OK as long as they take it all away from him FakeNoose Aug 2017 #19
O-o-o-o! WinstonSmith4740 Aug 2017 #31
club fed is a myth. Federal prisons are pretty bad. mucifer Aug 2017 #45
But I thought the minimum security prisons were supposed to be a lot more decent... TheDebbieDee Aug 2017 #46
Low/medium fed is more like a college campus than it is a jail. joshcryer Aug 2017 #53
It sounds great but crim son Aug 2017 #37
+1 broadcaster90210 Aug 2017 #41
Good irisblue Aug 2017 #3
I noticed that too. gtar100 Aug 2017 #28
Justice may be blind Fritz Walter Aug 2017 #39
Yup. He gets nothing for ruining lives AllyCat Aug 2017 #43
Hand-Stands!! Happy Dance!! lastlib Aug 2017 #44
I'm not laughing. blogslut Aug 2017 #4
I hope he spends the rest of his life in jail. BigmanPigman Aug 2017 #5
He won't but it will feel like it Warpy Aug 2017 #9
He'll have to adapt to prison life but he is already a hermit. joshcryer Aug 2017 #51
O happy day canetoad Aug 2017 #6
Cautionary tale for Trump marylandblue Aug 2017 #7
How many suffered LittleGirl Aug 2017 #8
Ha ha underpants Aug 2017 #10
I would temporarily suspend my opposition to the death penalty Downtown Hound Aug 2017 #11
He's like a comic book, mega-villain Yavin4 Aug 2017 #12
Smirk now, fuckstick . . . hatrack Aug 2017 #14
I hope that smarmy asshole gets some decent time. He's the living embodiment of catbyte Aug 2017 #16
My favorite German word. volstork Aug 2017 #25
Don't get your hopes up, I'm expecting Martha Stewart treatment. joshcryer Aug 2017 #50
Lock him up!! bucolic_frolic Aug 2017 #17
Can you imagine being assigned as his lawyer? jmowreader Aug 2017 #18
Convicted Pharma Bro has an image problem, lawyer concedes oberliner Aug 2017 #32
I hope his reputation precedes him to jail. hamsterjill Aug 2017 #20
Some good news for a change..... Coventina Aug 2017 #21
he is soooooo cute too :))) samnsara Aug 2017 #22
Good. nt SunSeeker Aug 2017 #23
Couldn't happen to a nicer guy.. whathehell Aug 2017 #24
Ha ha ha ha ha ha ha ha volstork Aug 2017 #26
His days of wiping his butt with other people's lives are over. BlancheSplanchnik Aug 2017 #27
May he rot in prison. Horrible excuse for a human being. Or an animal. nt Honeycombe8 Aug 2017 #29
Couldn't happen to a more deserving person Dopers_Greed Aug 2017 #30
Who's smirking now, Pharma Douche? LW1977 Aug 2017 #33
Couldn't happen to a more despiccable guy. Old Crow Aug 2017 #34
PharmaDouche is guilty! 47of74 Aug 2017 #35
Was there any doubt he would be? jmowreader Aug 2017 #38
Well considering who is in the White House now you never know 47of74 Aug 2017 #47
Definition of flight risk. kairos12 Aug 2017 #36
"He faces years..." C Moon Aug 2017 #40
He'll get the Martha Stewart treatment. joshcryer Aug 2017 #49
Thanks for the insight! C Moon Aug 2017 #52
Couldn't have happened to a more deserving guy Yo_Mama_Been_Loggin Aug 2017 #42
Sometimes I wish I was still a judge. broadcaster90210 Aug 2017 #48
I'll bet he doesn't serve one day In prison SHRED Aug 2017 #54
Fixing drug prices is crime enough liberaldemocrat2024 Aug 2017 #55
Yes!!!!! ProgressiveValue Aug 2017 #56
Smug snot hate boy crossed way too many lines. truthisfreedom Aug 2017 #57
1 to 2 years in prison would be good...... whistler162 Aug 2017 #58

WinstonSmith4740

(3,048 posts)
15. Just saw the report on MSNBC
Fri Aug 4, 2017, 03:19 PM
Aug 2017

The smirk is gone. Can't wait for the sentencing.
And as much as I'd like to see him in a hole for the rest of his life, we all know that won't happen. Chances are he'll end up in a "Club Fed". I still think going "Trading Places" is the answer here. Strip him of all assets. Cash, stocks, bonds, property, record collections, tupperware, I don't care. Take it all. And when he's done the time, put him back on the street with the clothes on his back. And just because he disgusts me so much, I'll go full evil here. Make him sick, and the cost of his medications expensive as hell.

joshcryer

(62,265 posts)
53. Low/medium fed is more like a college campus than it is a jail.
Sat Aug 5, 2017, 12:40 AM
Aug 2017

You can't leave, mind you, but you have a lot of freedom to move around.

And this guy isn't going to run, he'll do his time, stay to himself, most likely in his room, and won't start shit.

crim son

(27,462 posts)
37. It sounds great but
Fri Aug 4, 2017, 06:28 PM
Aug 2017

he's the sort of predator who will always survive and even thrive, even if he has to kill to do it. Lock his ass up.

irisblue

(32,829 posts)
3. Good
Fri Aug 4, 2017, 02:54 PM
Aug 2017

Stealing $ from poor people or HIV+people, no probs. Steal from the 1% = jail time.
Still jail time is good.

gtar100

(4,192 posts)
28. I noticed that too.
Fri Aug 4, 2017, 04:10 PM
Aug 2017

Just like Joe Nacio, former CEO of Qwest, who got convicted of insider trading but not for destroying thousands of retirement accounts of employees whose lives were impacted far more than the insider trading "victims". People lost their life savings, had to cancel retirement plans, and work for additional years because of what he and his cohorts did. He served four years of a six year sentence. And he continues to work hard like any good capitalist would. For example...

http://www.denverpost.com/2016/01/08/nacchio-wins-14-2m-in-lawsuit-against-former-financial-adviser/

Fritz Walter

(4,281 posts)
39. Justice may be blind
Fri Aug 4, 2017, 06:44 PM
Aug 2017

But as frequently happens when one sense is impaired, the other senses ramp up to feed the brain what it needs to survive.

In this case, Justice's hearing was proportionally amplified. So much so that her scales achieved some degree of balance.

Karma and Lady Justice are siblings.

lastlib

(22,982 posts)
44. Hand-Stands!! Happy Dance!!
Fri Aug 4, 2017, 09:21 PM
Aug 2017

WOOP! WOOP! WOOP! WOOP! WOOP!

. . . .

. . .

WOOP! WOOP! WOOP! WOOP! WOOP!

. . . .

. . .



BigmanPigman

(51,432 posts)
5. I hope he spends the rest of his life in jail.
Fri Aug 4, 2017, 02:59 PM
Aug 2017

I want to see his smug smirk in a few months after he has been living with his cell mates. He rips off investors like Bernie Madoff and purposely hurts thousands of very ill people both financially and physically.

Warpy

(110,913 posts)
9. He won't but it will feel like it
Fri Aug 4, 2017, 03:02 PM
Aug 2017

A smug and smarmy face like his is not going to do well in prison, not even in a minimum security Club Fed.

joshcryer

(62,265 posts)
51. He'll have to adapt to prison life but he is already a hermit.
Fri Aug 4, 2017, 11:32 PM
Aug 2017

Lives in his little NYC studio pretty much 95% of his day. It's his own little prison.

He'll miss his internet, his guitars, his musical instruments, but he'll have access to books and maybe TV and music (from the radio).

But he most definitely will have to deal with having to associate with the general population. After his first, well, incident (not making the joke that people make, but it'll probably happen), he'll probably get solitary, which would suite him fine. Psychologically, mentally, the 1-2 years he'll actually get will pass very quickly. Then he'll get house arrest for another 3 years or something like that. Very similar to Martha Stewart, imo (as far as sentencing mind you, not comparing them as personalities; Stewart was a fall person for a stupid decision she made).

marylandblue

(12,344 posts)
7. Cautionary tale for Trump
Fri Aug 4, 2017, 03:01 PM
Aug 2017

Another arrogant SOB who thought he was untouchable then painted a big "indict me" sign on his back.

Yavin4

(35,357 posts)
12. He's like a comic book, mega-villain
Fri Aug 4, 2017, 03:09 PM
Aug 2017

All he needs now is some sort of lab accident or experiment gone bad to transform him.

catbyte

(34,175 posts)
16. I hope that smarmy asshole gets some decent time. He's the living embodiment of
Fri Aug 4, 2017, 03:21 PM
Aug 2017

Backpfeifengesicht. It's a German phrase, roughly translated as "A face badly in need of a fist."

joshcryer

(62,265 posts)
50. Don't get your hopes up, I'm expecting Martha Stewart treatment.
Fri Aug 4, 2017, 11:28 PM
Aug 2017

He did, after all, what hedge fund managers do on a daily, hourly basis, who are doing this shit right now, making schemes, setting up fake pharmas, selling useless drugs with near zero efficacy, and doctors who prescribe the shit out the wazoo for kickbacks. The whole system is a house of cards and until the FDA gets either more oversight or another admin is created to reign that shit in, it'll continue.

And this guy was just a distraction from the bigger fish, when all is said and done, like Stewart was. Stewart gets a phone call and prison time (albeit a nice prison), during the same time Maddoff was doing his stuff. Maddoff only got caught because the bubble burst and he couldn't keep it secret. Had there been no bubble burst Maddof would probably still be a free man doing his stuff.

jmowreader

(50,453 posts)
18. Can you imagine being assigned as his lawyer?
Fri Aug 4, 2017, 03:36 PM
Aug 2017

The time: A Monday morning, many months ago
The place: The Manhattan offices of Jacoby & Meyers, the only law firm who'd touch Martin Shkreli with a ten-foot pole

"Good morning. Welcome to this week's client assignation meeting. We've got some great cases coming up that I know you'll have a great time handling. It's a fantastic day to be a lawyer, isn't it?"
(Coffee cups and bagels are raised in the air to celebrate the joys of lawyering...)

"Mary, you'll love the case I've got for you. It's a guy who robbed thirty banks and made off with half a billion dollars before he got caught."
'Do I have an account with any of those banks?'
"Uhh...ho. You're fine."

"John, this is an unusual case. Some guy just got caught running a child pornography ring."
'What's so unusual about that? Lots of people get caught running child pornography rings.'
"He was running it from inside a prison."
'How the hell did he do that? Wait...don't tell me. I'll take care of it.'

"And now...for the worst case of all. I sat up all weekend thinking of the right lawyer to handle this case. Drum roll, please..."
(Fifty lawyers begin playing the tabletop with their hands, like it was the world's biggest conga drum.) "Susan, you're defending the Pharma Bro."
'Come on, Alan, what the hell did I ever do to you? Why me?'
"Let me explain why I picked you to defend that loathsome fuck. First, you just graduated from law school. As the low man...well, low woman...on the totem pole, you get the worst case. It's not going to be all that hard of a case. You know he's going to lose, so you don't have to argue all that hard. The trial will take about a month, so you'll have an excuse to go buy more suits. And it comes with a special incentive: He's up on eight charges. If you manage to persuade the jury to not try to convict him for crimes he hasn't been charged with yet, I'll pay off your school loans and give you an honorable criminal like a heroin kingpin for your next case."

 

oberliner

(58,724 posts)
32. Convicted Pharma Bro has an image problem, lawyer concedes
Fri Aug 4, 2017, 04:27 PM
Aug 2017
“There is an image issue that Martin and I are going to be discussing in the next few days,” he said, adding that while Shkreli was a brilliant mind, sometimes his “people skills” need work. As he spoke, Shkreli smiled and cocked his head quizzically in mock confusion.

http://wtop.com/business-finance/2017/08/jury-deliberates-for-5th-day-at-martin-shkrelis-fraud-trial/

hamsterjill

(15,214 posts)
20. I hope his reputation precedes him to jail.
Fri Aug 4, 2017, 03:43 PM
Aug 2017

Life might be hard in prison for someone with Mr. Shkreli's reputation. Awww....

Old Crow

(2,212 posts)
34. Couldn't happen to a more despiccable guy.
Fri Aug 4, 2017, 05:33 PM
Aug 2017

Hope your sentence winds up on the higher end of the guidelines, Shkreli.

jmowreader

(50,453 posts)
38. Was there any doubt he would be?
Fri Aug 4, 2017, 06:32 PM
Aug 2017

There are some people who just deserve a sound beating, and Shkreli is at the top of the list. Ya gotta wonder how many swirlies he got when he was in high school.

C Moon

(12,188 posts)
40. "He faces years..."
Fri Aug 4, 2017, 06:57 PM
Aug 2017

What? 1.5 years, in a comfortable white collar prison?
Although, there is a good article here about "white collar" prisons. Doesn't sound very nice...
http://www.businessinsider.com/white-collar-prisons-2013-12

joshcryer

(62,265 posts)
49. He'll get the Martha Stewart treatment.
Fri Aug 4, 2017, 11:24 PM
Aug 2017

Though his time will be longer. I'm going to say 1-2 years actual prison, 3 years house arrest, 5 years probation. Since no investors actually lost money (they gained money due to his shenanigans, effectively gambling on their money) the judge will be lenient. But federal rules still stipulate, when you do the convoluted math on it, that he gets 4 to 6 years. I'm going to go with since he didn't actually lose anyone money the judge will give him a break. And since he's a literal hermit (he never leaves his apartment) he'll deal with it fine.

He was, sad to say, small potatoes, and only really got convicted because he was an immense internet troll who just wouldn't shut the fuck up. Literally got banned from twitter for being such an asshole.

Hate to come off as a defender of him here but there are much bigger guys out there who are doing way more shady shit and they aren't getting caught because they know how to use the system, lobby effectively, and have the right connections.

 
55. Fixing drug prices is crime enough
Sat Aug 5, 2017, 12:52 PM
Aug 2017

Of course they wouldn't say it but it's likely these criminals charges against him were a result of him fixing drug prices and charging more than 5000 percent of the original price.
The federal government has got him and unfortunately because of his greed and arrogance, he will have no public support at all.

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