'Pharma Bro' Martin Shkreli on trial for securities fraud charges
- Staff Reporter
Martin Shkreli, aka the "Pharma Bro," is on trial for multiple fraud charges. The former pharmaceutical CEO is being tried on 8 counts of securities and wire fraud related to when he ran two hedge funds, MSMB Capital and MSMB Healthcare. He is also accused of manipulating stocks illegally from Retrophin, a biotech company that he founded in 2011 but was ousted from in 2014. Before his trial, nearly 250 potential jurors were dismissed due to concerns of impartiality, as many jurors expressed hatred and disgust toward Shkreli. Shkreli caused public outrage when he dramatically raiseded the price by 5,000% of Daraprim, a potentially life-saving medicine for HIV patients and others with compromised immune systems, in 2015. Shkreli was dubbed by many a "public disgrace" and "America's Most Hated Man." Shkreli now faces 20 years in prison if convicted.