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‘Pharma Bro’ convicted in US fraud trial


Martin Shkreli arrives at federal court in New York on Friday. Picture: Seth Wenig/AP

MARTIN Shkreli, the eccentric former pharmaceutical CEO notorious for a price-gouging scandal and for his snide “Pharma Bro” persona on social media, was convicted on Friday on federal charges he deceived investors in a pair of failed hedge funds.

A jury in Brooklyn, New York, deliberated five days before finding Shkreli guilty on three of eight counts. He had been charged with securities fraud, conspiracy to commit securities fraud and conspiracy to commit wire fraud.

Prosecutors had accused Shkreli of repeatedly misleading investors about what he was doing with their money. Mostly, he was blowing it with horrible stock picks, forcing him to cook up a scheme to recover millions in losses, they said.

Jarrod Sierocki

Shkreli with his lawyer Benjamin Brafman, right. Picture: Drew Angerer/Getty Images/AFPSource:AFP

Shkreli, 34, told “lies upon lies,” including claiming he had $US40 million ($50 million) in one of

Read the full article at: http://www.news.com.au/world/pharma-bro-martin-shkreli-convicted-in-us-fraud-trial/news-story/b72ac98654920ad48ca4bdd4fc08b025

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