
"Before he made headlines as the CEO of Turing Pharmaceuticals, Shkreli founded a pharmaceutical company, Retrophin, and a pair of hedge funds, MSMB Capital Management and MSMB Healthcare".
After almost five full days of jury deliberations, Martin Shkreli has been found guilty of three counts of securities and wire fraud.
The Friday decision ends five days of jury deliberations after a five-week trial in federal court in Brooklyn.
After getting their money, prosecutor said, Shkreli quickly lost much of it, and also used some of it to capitalize his infant pharmaceuticals company, Retrophin, even as he continued sending out financial statements to investors claiming positive returns.
Shkreli showed little emotion as the verdict was read, but outside the courthouse portrayed it as a victory, though he could face up to 20 years in prison for securities fraud.
NBA Live 18 Adds the WNBA, Watch the New Trailer
NBA Live 18 will be the very first video game in history to feature official WNBA players and teams, EA Sports announced today. FIFA2016 added 12 women's soccer national teams, including the US , to the game in 2015.
Normally, a securities fraud trial wouldn't merit this kind of interest, but Shkreli has been a notorious figure ever since he raised the price of a toxoplasmosis drug back in September 2015 from $13.50 a tablet to more than $700.
Prosecutors said Shkreli eventually paid investors back with stock or cash from Retrophin by having them sign settlement or consulting agreements with the company. He was found guilty of securities fraud but not of conspiracy to commit securities fraud and conspiracy to commit wire fraud, AP reported.
His defense argued that Shkreli did not have "fraudulent intent" to rip off investors. He was acquitted of five other criminal charges.
Shkreli called the case "bogus".
"This is not a case where anybody was defrauded!", Shkreli lawyer Benjamin Brafman shouted in the courtroom during his closing argument, according to CNBC.
Toyota, Mazda to build $1.6B plant in US
On Friday , the Japanese firm said it now plans to produce Tacoma pickup trucks at the plant in Mexico instead of the Corolla. Toyota on the other hand is perfectly placed to enter the EV market, and has already committed to sustainable transport.
Fire breaks out at Dubai residential tower
The resident said a lot of people got out of the building but added that it was unclear if there were people still trapped inside. A statement from the Dubai Media Office said: "The fire at the Torch Tower has been brought under control".
Hundreds gather to remember victims of Minneapolis school explosion
He says crews are searching for others who might be trapped in the rubble, including three people who are unaccounted for. The explosion only affected the upper school, officials said; the lower school is several miles away and is undamaged.
'The Dark Tower' review: Incoherent to all but Stephen King fans
Howard reportedly offered Arcel input on the music while co-writer and producer Akiva Goldsman helped the craft the final film . Take the Dark Tower of the title for example, a curiously wilted edifice that supposedly determines the fate of the universe.
Women's Euro 2017 Semi-Final
But after France had spurned some early chances, Arsenal striker Jodie Taylor broke the deadlock on the hour with her fifth goal of the tournament.
Solar eclipse 2017: How to make sure your eclipse glasses are safe
Cantore and Abrams will anchor live coverage of the eclipse as it crosses the country over the course of the day. The project, called Eclipse America , also has an entire website dedicated to learning about the event.
Usain Bolt: the fastest man who has ever lived
Bolt said: 'Hopefully athletes will see what's going on and understand that if they don't stop what they're doing the sport will die.
Asus ZenFone 4 Launch Set for August 17, Dual Camera Setup Confirmed
Asus has gradually become a larger player in the smartphone market with the expansion of it budget phones over the past few years. All devices are expected to run the latest version of Android Nougat and will likely see an upgrade to Android O.
India's central bank cuts key lending rate to 6 percent
As a result, the RBI said it wanted more confidence that inflation would move "close to 4 percent on a durable basis". The Committee was formed during a year ago on the lines of Federal Open Market Committee in the US.
Radeon RX Vega is AMD's return to high-end GPUs
The WX 9100 has 16 GB of 945 MHz HBM2 ECC memory on the same package as the GPU core, providing up to 484 GB/s of bandwidth. Vega will come in a number of different variants including the vega 64 and 56 which will be released later this month.
LG V30 will go on sale from September 28 in the US
Similar to the V10, a second, supplemental display is located at the top of the device to the right of the front-facing camera. Now, with the LG V30 , according to rumours we can expect a crisper OLED display instead of its traditional LCD displays.
Germany urges United States to talk to European Union about Russian Federation sanctions
Berlin will use this opportunity to influence the White House decision and hopes that there is still time until U.S. President Donald Trump finally determines how he will strengthen sanctions against Russian Federation .
Bitcoin Avoided a Fork with One "Awesome" "Positive Change"
But some digital currency exchange operators- including Coinbase and Bitstamp - have said they won't support Bitcoin Cash . Coinbase's decision against supporting the new version, however, means its customers will not receive this benefit.
Varied Analyst Comments On AK Steel Holding Corporation (AKS), Achaogen, Inc. (AKAO)
Raymond James Financial Services Advisors Inc. raised its position in AK Steel Holding Corporation by 20.9% in the fourth quarter. Following the completion of the purchase, the director now directly owns 21,872 shares in the company, valued at $436,127.68.
Tragic Baby Deaths in 2 Days in Phoenix
One day earlier, on Friday, seven-month-old Zane Endress died after being left alone in a auto on the northeast side of Phoenix. Phoenix fire responded to the area of 28th Street and Broadway Road after receiving reports about an injured child.