The Latest: Shkreli feels ‘exonerated’ despite conviction
NEW YORK (AP) – The Latest on Martin Shkreli’s securities fraud trial (all times local):
“Pharma Bro” Martin Shkreli says he feels “exonerated” despite being convicted on three charges at his securities fraud trial.
Shkreli was on his YouTube channel chatting with fans and sparring with a reporter after Friday’s verdict.
Shkreli said, “In sum and substance I feel exonerated.” He said he thinks there’s a “50-50 chance” he won’t face any punishment.
He buzzed in a newspaper reporter and argued with her about his 2014 decision to buy the rights to a drug and raise the price from $13.50 to $750 per pill. He told her “I don’t think you understand pharmaceuticals.”
The charges Shkreli was convicted of were unrelated to that drug.
Prosecutors say Shkreli looted his drug company to pay back investors in two failed hedge funds he ran. The defense says investors got their original investments back and even made hefty profits.