
“The Most Hated Man in America” just got a little more reviled.
A Manhattan jury found notorious “Pharma Bro” Martin Shkreli guilty Friday of defrauding investors in what prosecutors described as an $11 million Ponzi scheme.
The jury of seven women and five men took about four and a half days to return the verdict, finding him guilty of three of the eight counts against him: two counts of securities fraud and conspiracy to commit securities fraud.
Each of the first two counts carries a potential prison sentence of up to 20 years. The conspiracy to commit securities fraud charge carries a prison term of up to five years.
Prosecutors in Brooklyn federal court mounted an exhaustive five-week case against the 34-year-old former drug-company CEO, accusing him of draining funds from his firm Retrophin to pay off investors of his failed hedge funds,MSMB Capital Management and MSMB Healthcare.