Tuesday, 23 October, 2018

'Pharma bro' Martin Shkreli heads into fraud trial

Kenny Thornton | 28 June, 2017, 06:36

Martin Shkreli, the former pharmaceutical executive who gained notoriety for hiking up the price of a life-saving drug, will finally go on trial Monday on charges of ripping off investors.

Shkreli is accusing of lying to investors in a hedge fund he ran, charges unrelated to his drug pricing.

Shkreli and his former counsel Evan Greebel are charged with allegedly defrauding investors of hedge funds that Shkreli formerly managed.

The negative comments built up to the point that Brafman began to signal to Matsumoto when potential jurors had said enough that he could challenge them for cause, to stop them from going "on a tirade against Shkreli". Badgering a journalist on Twitter until his account was suspended. Only one juror said that she would be implicitly on the side of Shkreli, claiming that the stock market is a "scam".

Shkreli also faces a challenge on how jurors view him for his social media antics.

Shkreli's trial is expected to last four to six weeks, according to the AP.

A NY judge is desperately searching for people who don't hate Martin Shkreli's guts.

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If convicted, he could spend up to 20 years in prison.

Excused were those who had negative opinions of Shkreli that rendered them ineligible to serve, or who had family, work or medical issues that would make it hard or impossible to be a juror in the case.

Jurors used words including "evil", "snake", and "greed" to refer to Shkreli, and several believed incorrectly he had been responsible for the price increase of another drug besides his own.

Another man booted said he was a pharmacist with three decades of experience in the drug business.

But in order for him to do so, the court needs to find 12 impartial jurors who haven't already made up their mind about the kind of guy Shkreli is. One by one, potential jurors huddled with the judge and the lawyers, WCBS 880's Peter Haskell reported.

At the start of his talk, sponsored by the Student Corporate Finance Club, Shkreli presented the proof and promised to pay the tuition of any student who could solve it. He also offered $40,000 for a math proof and $100,000 for tips on the killing of DNC staffer Seth Rich. Brafman told the court that Shkreli didn't have any cash and needed to pay taxes and legal fees.

Emily Saul is a court reporter for the Post who is covering Shkreli's Ponzi scheme trial, while Meg Tirrell covers the pharmaceutical industry for CNBC. "There are going to be jurors who will be fans of mine".

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