August 4, 2017

Martin Shkreli, “Pharma Bro,” Convicted of Fraud

The former pharmaceuticals executive was accused of defrauding investors to pay off debts.

Martin Shkreli, the former pharmaceuticals executive notorious for price-gouging a drug used to fight AIDS, has been found guilty on three counts of securities fraud for lying to investors to cover unrelated debts. He faces up to 20 years in prison.

He was convicted Friday by a federal jury in Brooklyn. In 2015, it was reported Shkreli increased drug prices by more than 5,000 percent. The revelation garnered him the nickname “pharma bro” and a reputation as the “most hated man in America.”

“This was a witch hunt of epic proportions and maybe they found one or two broomsticks,” Shkreli said in response to the conviction on Friday.

This is a breaking news post. We will update when more information becomes available.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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