Martin Shkreli Convicted Of Three Counts Of Securities Fraud

Ex-pharmaceutical executive Martin Shkreli speaks to the press in front of U.S. District Court for the Eastern District of New York with members of his legal team after the jury issued a verdict on Aug. 4, 2017.

A federal judge issued a scathing order against so-called “Pharma Bro” Martin Shkrelibanning him for life from participating in the pharmaceutical industry in any capacity” and forcing him to pay a $64.6 million fine to states filed an antitrust suit against him.

“Banning an individual from an entire industry and limiting his future capacity to make a living in that field is a serious remedy and must be done with care and only if equity demands,” U.S. District Judge Denise Cote noted in a 135-page ruling. “Shkreli’s egregious, deliberate, repetitive, long-running, and ultimately dangerous illegal conduct warrants imposition of an injunction of this scope.”

In January 2020, New York State Attorney General Letitia James (D) filed a lawsuit—which was later joined by the Federal Trade Commission (FTC) and attorneys general from other states—accusing Shkreli of exerting monopoly control to jack up the price of the life-saving drug, Daraprim.

This is a developing story.

Read the ruling below:

(Photo by Spencer Platt/Getty Images)

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