Martin Shkreli Fined $64m, Banned From Pharma Industry: NY AG
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, center, pauses while speak to members of the media with his attorney Benjamin Brafman, right, outside federal court in the Brooklyn borough of New York, U.S., on Friday, Aug. 4, 2017. Shkreli, notorious for raising the price of a potentially life-saving drug by 5,000 percent, was found guilty Friday of defrauding investors in two hedge funds and in Retrophin Inc., a pharmaceutical company he co-founded. Shkreli was convicted of three of eight charges, including securities fraud.
, Bloomberg
Sebastian Tong, Bloomberg News
(Bloomberg) -- Former Vyera Pharmaceuticals Chief Executive Martin Shkreli will pay $64 million and be banned from the pharmaceutical industry for life after a court found the company violated antitrust law, New York Attorney General Letitia James said in a tweet Friday.
Shkreli is serving a seven-year prison sentence for securities fraud committed while running two hedge funds.
Read More: ‘Pharma Bro’ Company Vyera Settles Suit Over Drug Pricing (2)
To view the source of this information click here
©2022 Bloomberg L.P.