03:05 GMT +313 November 2019
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    Martin Shkreli stands at an intersection after leaving federal court

    Free Range Capitalist and Pharma Bro Martin Shkreli Found Guilty in New York

    © AP Photo / Julie Jacobson
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    At one time the most hated man in the world, Martin 'Pharma bro' Shkreli has been found guilty on three of the original eight charges brought against him, including securities fraud.

    Shkreli, although reviled for raising prices on life-saving drugs to the point of inaccessibility while gloating of the profits he was providing to shareholders, was only accused of defrauding hedge-fund investors and pillaging the bank accounts of the drug company he co-founded so that he could pay back his investors.

    Pharma bro Shkreli will likely face several years in prison when he appears in court for sentencing at an undetermined future date.

    Born to Croatian and Albanian immigrants in New York City, Shkreli is notorious for his unapologetic greed and unabashed disdain for the Wall Street establishment, of which the latter is notably what brought him in front of a judge.

    In a short but fiery career in high finance, Shkreli's sharp intelligence but poor people skills quickly ran him afoul of the US Securities and Exchange Commission, which put him under investigation before he was 20 years old.

    In finding the brash investor guilty of just three of the eight counts brought against him in a Brooklyn, New York, courtroom, many were confused, including the defendant, who originally came to the attention of the public in 2015 after raising the price of a life-saving drug over 5000 percent, according to CNBC.

    One juror, who was interviewed by the New York Times, was quoted saying, "In some of the counts at least we couldn't find that he intentionally stole from them and the reasoning was to hurt them."

    Shkreli has been released on his own recognizance, with a $5 million bail. While he faces a maximum 20-year prison sentence, it is widely thought that his punishment will be far less severe, as he has no previous criminal record, and the crimes for which he has been convicted — due to their financial nature — are considered to be victimless.

    Speaking of himself in the third person, Shkreli noted, "I think we are delighted in many ways," following the conviction.

    Perhaps noting his client's scandalous history and ill-mannered habits, the convict's lead lawyer, Benjamin Brafman, stated, "I hope tomorrow's reports inform the public that Martin Shkreli went to trial and despite being Martin Shkreli he won more than he lost," cited by The News Recorder.

    After being repeatedly told by the trial judge to be quiet, Brafman acknowledged that his client, "In terms of people skills, he's impossible," cited by the Daily Mail.

    Prosecutor, Jacquelyn Kasulis, following the verdict, stated that the judgement "has exposed Martin Shkreli for who he really is — a con man who stole millions."

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    Tags:
    corporate greed, capitalism, hedge funds, pharmaceuticals, fraud, court, verdict, US Securities and Exchange Commission (SEC), Martin Shkreli, United States, Brooklyn, New York city
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