Tag Archives: Martin Shkreli

Reuters reports: Martin Shkreli has been sued in New York by a digital art collective that said it paid $4.75 million for a one-of-a-kind album by the hip-hop group Wu-Tang Clan, only to learn that the convicted pharmaceutical executive made copies and is releasing the music to the public. Shkreli paid $2 million in 2015 for “Once Upon a Time …

Reuters reports: Martin Shkreli, known for once hiking the price of a life-saving drug more than 4,000%, cannot return to the pharmaceutical industry after a federal appeals court on Tuesday upheld his lifetime ban. A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge acted properly in imposing the ban and ordering …

CNBC reports: The Federal Trade Commission on Friday asked that notorious “pharma bro” Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge’s ban on the convicted fraudster from working in the pharmaceuticals industry. Shkreli, who was released from prison last year, in February was banned “for life from directly or indirectly participating in any manner in the …

The New York Post reports: Convicted “Pharma Bro” Martin Shkreli has finally been ousted as boss of the pharmaceutical company he founded, The Post has learned. Activist shareholders booted the group of directors still loyal to Shkreli during the annual general meeting of Turing’s parent company, Vyera, on Thursday. In December, the Federal Trade Commission accused Shkreli in court of …

The Daily Beast reports: The New York and North Carolina attorney general’s offices are looking into former pharma bro Martin Shkreli’s latest venture, representatives told The Daily Beast. Shkreli recently launched a company called Druglike, a decentralized “drug discovery platform” that Shkreli claimed would “disrupt the economics of the drug business.” The announcement raised eyebrows given that Shkreli was banned …

CNBC reports: Notorious “Pharma bro” fraudster Martin Shkreli was released from a federal prison in Pennsylvania on Wednesday and into a U.S. Bureau of Prisons halfway house at an undisclosed location in New York to complete the rest of his criminal sentence, his lawyer said. In a throwback to the days when Shkreli was one of the most prominent trolls …

Bloomberg News reports: Martin Shkreli owes the Securities and Exchange Commission more than $1.39 million and is permanently barred from serving as a public company officer or director for his participation in “multiple” securities fraud schemes, a federal judge in New York said. He’s “unfit to serve as an officer or director of any public company,” the U.S. District Court …

The Washington Post reports: A federal judge on Friday ordered Martin Shkreli to return $64.6 million in profits he and his company reaped from inflating the price of the life-saving drug Daraprim and barred him from participating in the pharmaceutical industry for the rest of his life. The ruling by U.S. District Judge Denise Cote came several weeks after a …

NBC News reports: A company once owned by “Pharma Bro” Martin Shkreli will pay up to $40 million to settle allegations that it jacked up the price of a life-saving medication by roughly 4,000% after obtaining exclusive rights to the drug, the Federal Trade Commission announced Tuesday. The FTC said Vyera Pharmaceuticals LLC and its parent company, Phoenixus AG, agreed …

CNBC reports: A one-of-a-kind album by the hip-hop group Wu-Tang Clan that was once owned by notorious “Pharma Bro” Martin Shkreli finally has been sold by the U.S. government, three years after Shkreli forfeited the record as part of his conviction for securities fraud. The buyer and the sale price of the album, “Once Upon a Time in Shaolin,” were …

Law & Crime reports: The Federal Trade Commission accused disgraced pharmaceutical executive Martin Shkreli on Tuesday of having destroyed evidence relevant to a lawsuit that could lead to his lifetime ban from the industry. Regulators claim that the convicted fraudster invoked his Fifth Amendment right against self-incrimination when asked about a phone he used to conduct business from prison. “It …

The New York Post reports: Pharma Bro Martin Shkreli was slapped with a class action lawsuit Thursday from health insurers who claim he engaged in a scheme to create a pharmaceutical monopoly that allowed him to raise the price of an HIV drug by more than 4,000 percent. In the Manhattan federal court suit, Blue Cross and Blue Shield of …

The Daily Beast reports: A former Bloomberg News reporter quit her job, divorced her husband, and froze her eggs for imprisoned former CEO Martin Shkreli, known as the “Pharma Bro,” who now refuses to talk to her, Elle reported Sunday. Christie Smythe first broke the news of Shkreli’s arrest on fraud charges in December 2015.  Smythe said she and Shkreli …

The New York Post reports: The Pharma Bro is staying behind bars another three years, despite his claimed fears of being at risk from the coronavirus. A federal judge in Brooklyn has denied Martin Shkreli’s request to be released early, citing his good health and low-risk at the Allenwood Low Federal Correctional Institution, where he’s currently confined. Adding insult to …

The Hill reports: Controversial pharmaceutical CEO Martin Shkreli called for his temporary release from prison on Tuesday in an 11-page scientific paper posted to a pharmaceutical company’s website. In the paper, Shkreli asks for a three-month furlough from his prison sentence in order to assist in the development of a cure for coronavirus. “I am asking for a brief furlough …

Reuters reports: Martin Shkreli, the “pharma bro” in prison for defrauding investors, faces a lawsuit filed by the Federal Trade Commission and New York attorney general’s office for an alleged scheme to preserve his monopoly for the drug Daraprim, whose price increased by more than 4,000% in one day. The lawsuit accuses a company that Shkreli once ran of buying …

CBNC reports: The Supreme Court on Monday denied notorious “pharma bro” Martin Shkreli’s request to hear an appeal of his criminal conviction for securities fraud. The rejection means that Shkreli, 36, will have to serve out the remainder of his seven-year prison term, and forfeit more than $6.4 million. Shkrekli’s appellate lawyer, Mark Baker, told CNBC that “all [Supreme Court] …

CNBC reports: A federal appeals court on Thursday upheld the criminal conviction of notorious “pharma bro” Martin Shkreli. The three-judge panel in the U.S. Court of Appeals for the Second Circut also upheld the more than $6.4 million in foreiture that a judge imposed on Shkreli last year when she sentenced him for his conviction on two counts of securities …

The New York Daily News reports: Takes one to know one. Imprisoned “Pharma Bro” Martin Shkreli sued three former colleagues Friday over his ouster from the unethical pharmaceutical company he founded, alleging they were “driven by their egos, jealousy, and greed.” The notorious Brooklyn-born troll is serving seven years for securities fraud. His lawsuit describes a Bizarro Shkreli who was …

The New York Daily News reports: “Pharma Bro” Martin Shkreli has been transferred out of his low-security prison and hauled back to Brooklyn after a report he was still running his business and tweeting with a contraband cell phone. Shkreli, 36, who’s serving seven years in a federal prison for defrauding investors, has been moved from the prison at Fort …