ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Bollywood

'Pharma Bro' Martin Shkreli convicted of securities fraud, conspiracy

Brooklyn [U.S.A.], August 5 (ANI): Martin Shkreli, who gained national notoriety in the United States two years ago for jacking up the price of an AIDS drug, has been convicted of securities fraud for mismanaging two investment funds.

ANI Aug 05, 2017 11:04 IST googleads

'Pharma Bro' Martin Shkreli convicted of securities fraud, conspiracy
Brooklyn [U.S.A.], August 5 (ANI): Martin Shkreli, who gained national notoriety in the United States two years ago for jacking up the price of an AIDS drug, has been convicted of securities fraud for mismanaging two investment funds. A jury in Brooklyn gave guilty verdicts against the 34-year-old on two counts of securities fraud and a single count of conspiracy. He was acquitted on five other counts of conspiracy. Federal prosecutors accused Shkreli of cheating investors out of more than $11 million between 2009 and 2014. Shkreli is accused of mismanaging money at the investment funds Elea Capital, MSMB Capital and MSMB Healthcare, as well as while he was CEO of Retrophin (RTRX), a pharmaceutical company he founded in 2011. Shkreli, as the CEO of Turing Pharmaceuticals, is accused of unapologetically raising the price of an AIDS drug from $13.50 per pill to $750. That episode is unrelated to the fraud case. He had defended the price hike, claiming that his company needed to profit from the drug. He also said that everyone who needs it would be able to afford the drug, Daraprim. "My case is a silly witch hunt perpetrated by self-serving prosecutors," he had once said on Facebook. (ANI)

Get the App

What to Read Next

US

Ending Iran's nuclear ambitions over oil profits: Trump clarifies

Ending Iran's nuclear ambitions over oil profits: Trump clarifies

In a post by the White House, President Trump, while acknowledging that the United States is currently the world's leading oil producer and stands to benefit financially from higher crude prices, emphasised that his administration's overriding mission remains the permanent dismantling of Iran's nuclear program.

Read More
Europe

Blasphemy laws in Pakistan target religious minorities: GHRD

Blasphemy laws in Pakistan target religious minorities: GHRD

At the 61st session of the United Nations Human Rights Council, the organisation Global Human Rights Defence (GHRD) raised concerns over the continued misuse of blasphemy laws in Pakistan and their impact on religious minorities.

Read More
Europe

Akshar Foundation highlights Northeast India’s development at UN

Akshar Foundation highlights Northeast India’s development at UN

On the sidelines of the 61st session of the United Nations Human Rights Council (UNHRC), Mazin Mukhtar, Co-founder and Associate Director of the Akshar Foundation, highlighted development initiatives in India's northeastern region and urged global recognition of progress made in previously neglected areas.

Read More
Europe

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

At the 61st session of the United Nations Human Rights Council (UNHRC), Yasser Laaroussi, from the ECO FAWN Society, during General Debate under Item 3, in his oral statement, highlighted the terrorist attack that took place in Pahalgam on April 22, 2025. He urged the international community to intensify efforts to combat terrorism and ensure accountability for attacks targeting civilians

Read More
Asia

Policy delays leave Pakistan short of critical medicines

Policy delays leave Pakistan short of critical medicines

Pakistan faces a severe shortage of life-saving medicines, including cancer drugs and vaccines, due to government delays in notifying official prices. While global supply remains stable, regulatory hurdles have stalled legal imports, raising concerns over patient survival and the potential rise of unregulated, counterfeit medicines.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.