Prosecutor Says Trial Has Exposed ‘Pharma Bro’ Martin Shkreli as a ‘Con Man’

Former biotech CEO Martin Shkreli, center, leaves federal court with his attorney Benjamin Brafman, left, Thursday, July 27, 2017, in New York. Brafman told the jury during closing arguments that his client annoyed some of his investors but ultimately rewarded them by starting a drug company that doubled or tripled their money. (AP Photo/Julie Jacobson)

A prosecutor says a securities fraud trial has exposed “Pharma Bro” Martin Shkreli as a “con man.”

Assistant U.S. Attorney Jacquelyn Kasulis said in closing arguments Friday that the evidence at the trial in federal court in New York City proved the former pharmaceutical CEO looted his own drug company to pay back disgruntled investors in two failed hedge funds he ran.

The defense argued that a drug company official who testified for the government was biased because if Shkreli is found guilty of a felony, the company could justify his firing in 2014 and gain ammunition in its $65 million lawsuit against him.

Shkreli is best known for jacking up the price of a life-saving drug by 5,000 percent and for trolling his critics online.

Source: Associated Press