Continue to Hollywoodlife () SKIP AD
Hollywood Life Logo Image

Hollywood Life

Today's Top Stories

  • Todd Chrisley
    Excl Video

    ‘Chrisley Knows Best’ Preview: Todd Admits He’s Tired Of Seeing Nanny Faye ‘Suffer’ From Allergies

  • Brittany Matthews & Patrick Mahomes
    See Message

    Brittany Matthews Reveals Why She & Patrick Mahomes Aren’t Sharing Pics Of Newborn

  • hailey baldwin
    SHOP

    TikTok Found $14 Hoops That Are The Perfect Dupe To Hailey Baldwin’s Go-To Earrings

Hollywood Life
  • Home
  • News
  • Entertainment
  • Celebrity Bios
  • Beauty
  • Fashion
  • Shopping
  • Celebrity News
  • World News
  • Exclusives
  • Politics
  • Celebrity Babies
  • Opinions
ALL NEWS
  • Tom Holland & Emma Watson

    Tom Holland Admits Emma Watson In ‘Harry Potter’ Was His First Crush: She Looked ‘Mind-Blowing’ To Me

  • Kylie Jenner Wears A Sexy, Sheer Top To Dinner With Dad Caitlyn Jenner — See Pics

  • Lady Gaga’s Dog Walker Reportedly Shot So Thieves Could Steal Her 2 Bulldogs

  • Award Shows
  • At The Movies
  • TV
  • Music
  • Sports
  • Sex & Relationships
  • Holidays
  • Entertainment Features
  • Podcast
  • Oscar Contenders
ALL ENTERTAINMENT
  • Todd Chrisley

    ‘Chrisley Knows Best’ Preview: Todd Admits He’s Tired Of Seeing Nanny Faye ‘Suffer’ From Allergies

  • Scott Disick Shocks Kourtney Kardashian & Says He’s Ready To Marry Her ‘Right Here, Right Now’ – Watch

  • Johnny Gates Captures The Thrill Of Finding Love & ‘Living In The Moment’ With New Song ‘Flirt’

  • Taylor Swift
  • Rihanna
  • Selena Gomez
  • Kim Kardashian
  • Kylie Jenner
  • Kendall Jenner
  • Justin Bieber
  • Miley Cyrus
  • Gigi Hadid
  • Khloe Kardashian
  • Jennifer Lopez
  • Angelina Jolie
  • Harry Styles
  • Kourtney Kardashian
ALL CELEBRITY BIOS
  • kylie jenner

    Kylie Jenner Wears A Sexy, Sheer Top To Dinner With Dad Caitlyn Jenner — See Pics

  • ‘Chrisley Knows Best’ Preview: Todd Admits He’s Tired Of Seeing Nanny Faye ‘Suffer’ From Allergies

  • The Viral TikTok Butt-Lifting Leggings With Over 38,000 Reviews Can Be All Yours For Just $30

  • Fragrance
  • Hair Care
  • Health
  • Makeup
  • Nails
  • Beauty Features
  • Skincare
  • Makeover
  • Diet & Fitness
ALL BEAUTY
  • brad pitt ponytail

    Brad Pitt Shows Off Longer Hair In A Ponytail During Rare Sighting — Pics

  • Get A Full Body Workout On-The-Go With These Amazingly Convenient Pilates Rings

  • Every Hour, 10 Jars Of Kourtney Kardashian’s Favorite Body Oil Sells & You Can Shop It For $28

  • Red Carpet
  • Weddings
  • Fashion Features
  • Shopping
ALL FASHION
  • TikTok leggings

    The Viral TikTok Butt-Lifting Leggings With Over 38,000 Reviews Can Be All Yours For Just $30

  • 14 Stars Wearing Wildly Colored Winter Coats To Beat The Cold: Selena Gomez, Hailey Baldwin & More

  • Kylie Jenner Stuns In $2800 Versace Crop Top With Deep Plunging Neckline – Gorgeous New Pics

  • Share This Article
  • Reddit
  • LinkedIn
  • WhatsApp
  • Email
  • Print
  • Talk
Next Up

Sophie Beem Teases New Music & Admits Presenting Her Work To Beyonce Is ‘Nerve-Wracking’

  • Facebook
  • Twitter
  • Instagram
  • Pinterest
  • YouTube
  • Newsletters
  • Search Close

Trending

  • Bonnie Says
  • Celeb Babies
  • TV
  • Celeb Galleries
  • Podcast
  • Tiger Woods
Search

NewsExpand Menu

  • Celebrity News
  • World News
  • Exclusives
  • Politics
  • Celebrity Babies
  • Opinions
  • Rock The Vote

EntertainmentExpand Menu

  • Entertainment Features
  • TV
  • Award Shows
  • At The Movies
  • Music
  • Sports
  • Sex & Relationships
  • Podcast
  • At Home With...

BeautyExpand Menu

  • Fragrance
  • Hair Care
  • Health
  • Makeup
  • Nails
  • Skincare
  • Beauty Features
  • Diet & Fitness
  • Shopping

FashionExpand Menu

  • Red Carpet
  • Weddings
  • Fashion Features
  • Shopping

TrendingExpand Menu

  • Bonnie Says
  • TV
  • Celeb Galleries

About UsExpand Menu

  • About Us
  • Writer Bios
  • Scoops, Tips & Corrections
  • Subscribe To Newsletter
  • Contact Us

Celebrity ProfilesExpand Menu

  • Kim Kardashian
  • Kylie Jenner
  • Justin Bieber
  • Selena Gomez
  • Taylor Swift
  • Rihanna
  • Kendall Jenner
  • Miley Cyrus
  • Gigi Hadid
  • Jennifer Lopez
  • Angelina Jolie
Follow Us
  • Facebook
  • Twitter
  • Instagram
  • Pinterest
  • YouTube
  • Newsletters
Alerts & Newsletters
  • Jobs
  • Scoops & Corrections
  • Terms of Use
  • Privacy Policy
  • California Privacy Rights
  • AdChoices
  • Data Policy
  • Do Not Sell My Personal Information
© 2021 Penske Media Corporation
  • News
  • World News
  • Martin Shkreli
August 4, 2017 3:13PM EDT

Hated ‘Pharma Bro’ Martin Shkreli Found Guilty Of Securities Fraud & Conspiracy

Martin Shkreli
REX/Shutterstock
Former Turing Pharmaceuticals CEO Martin Shkreli is interviewed by host Maria Bartiromo during her "Mornings with Maria Bartiromo" program on the Fox Business Network, in New York, Tuesday, Feb. 2, 2016. (AP Photo/Richard Drew)
FILE - In this Thursday, Dec. 17, 2015, file photo, Martin Shkreli, center, the former hedge fund manager under fire for buying a pharmaceutical company and ratcheting up the price of a life-saving drug, is escorted by law enforcement agents in New York  after being taken into custody following a securities probe. U.S. Rep. Elijah Cummings, D-Maryland, said a lawyer for Shkreli indicated he has not sought permission from a New York judge to appear at a congressional hearing Tuesday, Jan. 26, 2016, on drug prices, despite receiving a subpoena. (AP Photo/Craig Ruttle, File)
FILE - In this Thursday, Dec. 17, 2015, file photo, former Turing Pharmaceuticals CEO Martin Shkreli leaves the courthouse after his arraignment in New York. House lawmakers will meet Thursday, Feb. 4, 2016, to question Shkreli, reviled for hiking the price of a lifesaving drug, after rescheduling a hearing originally set for Tuesday, Jan. 26. Staffers for the House Committee on Oversight and Government Reform said the hearing had to be pushed back due to the weekend blizzard that has paralyzed travel on the East Coast. (AP Photo/Seth Wenig, File)
Former Turing Pharmaceuticals CEO Martin Shkreli arrives at court in New York, Wednesday, Feb. 3, 2016. Shkreli, who has become the poster child of pharmaceutical-industry greed after hiking the price of an anti-infection drug by more than 5,000 percent, is scheduled to appear at a congressional hearing on Thursday. (AP Photo/Seth Wenig) View Gallery View Gallery 5 Photos.
Emy LaCroix
Senior Writer
  • Share This Article
  • Reddit
  • LinkedIn
  • WhatsApp
  • Email
  • Print
  • Talk

The infamous ‘Pharma Bro’ Martin Shkreli is finally being dealt some justice for all of the crappy things he’s done over the last few years. On Aug. 4, he was found guilty of securities fraud for what prosecutors called a ‘Ponzi scheme.’

Wow! Martin Shkreli, 34, who became famous (and hated) for jacking up the price of a life-saving AIDS drug 5000%, has been convicted. The pharmaceutical CEO was found guilty of three counts of securities fraud and conspiracy to commit securities fraud. The jury of seven women and five men agreed that the evidence proved that Martin drained funds from his firm Retrophin to compensate the investors of his unsuccessful hedge funds, according to NY Post. He also reportedly lied to these investors, telling them he graduated from Colombia, that the hedge funds were profitable, and that he hired an auditor. See pics of Martin, here. 

The young mogul is now facing 20 years in prison as his sentence, although Washington Post reports that legal experts say chances are he will get much less. He reportedly looked stunned when he heard the first guilty verdict, and his father appeared distraught as well, hanging his head in his hands from the front row. Despite his initial reaction, Martin seemed in better spirits outside of the courtroom following the decision. “We’re delighted in many ways,” he explained, since he was found not guilty on the other 5 counts. “This was a witch hunt of epic proportions. They may have found some broomsticks.”

Martin’s lawyers argue that despite the lies, he did make his investors millions of dollars, fair and square. Assistant U.S. Attorney Jacquelyn M. Kasulis disagrees. “Just because the defendant got lucky and Retrophin became a success years later” that doesn’t excuse fraud, she told the jury. “Martin Shkreli doesn’t think the rules doesn’t apply to him, that the law doesn’t apply to him unfortunately for him, it does.” The jury spend five weeks listening to testimony and wading through evidence, and in the end they agreed with Ms. Kasulis.

HollywoodLifers, do you think that Martin deserved the guilty verdict he got? Let us know!

Click to Subscribe to Our HollywoodLife Daily Newsletter to get more celeb news.
  • Share This Article
  • Reddit
  • LinkedIn
  • WhatsApp
  • Email
  • Print
  • Talk
Martin Shkreli

More Martin Shkreli News:

  • Martin Shkreli Gets Hit In The Face With Dog Poop After Raising Price Of HIV/AIDS Drug
  • Martin Shkreli Shares Clips From Unreleased Wu-Tang Album After Trump's Win
  • Martin Shkreli Formerly Slammed Donald Trump: 'F*ck Him'

Most Read

Britney Spears’ Sons Preston, 15, & Jayden, 14, Are Taller Than Her In Rare Family Photo

Britney Spears ans sons

Tiger Woods’ Girlfriend: 1st Photos Of Erica Herman Visiting Him In The Hospital After Scary Crash

Erica Herman

Kourtney Kardashian Stuns In Bra Top & Sheer Covering For Wild Night Out With Kim — Pics

Kourtney Kardashian

David Bowie’s Daughter, 20, Claps Back At ‘Piece Of Trash’ Troll Who Hated On Her Swimsuit Pic

david bowie iman

Miley Cyrus Looks Incredible In Low-Cut Tank Top While Makeup-Free In New Photos

Miley Cyrus

Have news, pics or video on a breaking news story?

Send us your Tip

Have news, pics or video on a breaking news story?

Send us your Tip

More From Our Brands

  • Prince Harry and Meghan Markle Are Already Proving They Can Live a Life of Public Service Without the Crown
    SheKnows

    Prince Harry and Meghan Markle Are Already Proving They Can Live a Life of Public Service Without the Crown

  • These Zara Pool Noodle Sandals Are Such A Great Designer Dupe
    StyleCaster

    These Zara Pool Noodle Sandals Are Such A Great Designer Dupe

  • Elite Renewed for Season 5 at Netflix, Ahead of Season 4 Premiere
    TVLine

    Elite Renewed for Season 5 at Netflix, Ahead of Season 4 Premiere

  • Herschel Supply Co. Embraces The Dark Side With New Star Wars Bag Collection
    Rolling Stone

    Herschel Supply Co. Embraces The Dark Side With New Star Wars Bag Collection

  • Victoria Justice Works Up a Sweat in a Cutout Sports Bra, Neon Biker Shorts & Chunky Sneakers
    FootwearNews

    Victoria Justice Works Up a Sweat in a Cutout Sports Bra, Neon Biker Shorts & Chunky Sneakers

    HollywoodLife

    • About Us
    • Accessibility Statement
    • Advertise With Us
    • Careers
    • Scoops & Corrections
    • Contact Us

    Legal

    • Privacy Policy
    • California Privacy Rights
    • AdChoices
    • Terms of Use
    • Data Policy
    • Do Not Sell My Personal Information

    News

    • Celebrity News
    • World News
    • Exclusives
    • Celebrity Babies

    Connect

    • Facebook
    • Twitter
    • Instagram
    • YouTube
SheKnows Media - Entertainment
© Copyright 2021 HollywoodLife, LLC, a subsidiary of Penske Business Media, LLC.
Powered by WordPress.com VIP
ad