Shkreli convicted of fraud

Shkreli convicted of fraud

World August 5, 2017 09:30

- Durf Investor Martin Shkreli has been convicted of fraud after he had sold drugs at wider prices and misled investors.

The penalty for conviction for fraudulent investments was not announced on Friday.

Shkreli has shown investors in its hedge fund and a company demonstrable about the garden, according to the ruling. There is a maximum of twenty years of imprisonment.

While in 2011 he was financially flat-pocketed, he held investors for a year and a half full of returns, according to the judgment Friday.

The general public, the 34-year-old American biotech skilled hated after the price of a medicine against infections for HIV patients and pregnant women increased by 5,000 percent.

The profit on medicine was considered to be necessary for research into new drugs.

His hedge fund speculated with investments in medicines whose patent was expired.

At the end of 2015, Shkreli was arrested. According to the Public Prosecutor, he had spent $ 11 million from his company to build up his accumulated debts to investors.

He also appeared to social media as if he were multimillional. In fact, according to the Public Prosecutor, Shkreli had hardly any income.

His lawyers, who in the process also called on members who said to be rich by Shrkeli, found that the entrepreneur was charged with the unfavorable image in the media. Shrkeli laughed continuously during his trial and offended opponents on Facebook.

He himself spoke of a 'stupid witch hunt'.

One hour after the statement, Shkreli reported on YouTube. In appeal, nothing would be left of the punishment, he reported. If he were to enter the cell, he would travel with a tennis, basketball and game life.

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