Martin Shkreli Found Not Guilty on Charges Related to His Former Pharmaceutical Company
On Friday, Martin Shrkeli was found guilty on multiple criminal charges related to securities fraud, but not guilty on charges related to his former pharmaceutical company.
Shrkeli first made headlines in 2015 when Turing Pharmaceuticals, the company he used to run, jacked up the price of Daraprim, a drug used to treat AIDS and cancer patients, 5,000 percent from $13.50 per tablet to $750.
Shrkeli was found not guilty on charges related to Retrophin Inc., the company he managed before Turing, in which prosecutors said he used company stock to pay back investors he had ripped off in the past.
None of the eight charges against Shrkeli were related to Turing or pharmaceutical price gouging.
Shrekeli faces up to 20 years in jail once sentenced.
Header image via House Committee on Oversight and Government Reform.