Pharma Douche Martin Shkreli Convicted in Securities-Fraud Trial
Good news.
Former drug company CEO Martin Shkreli was convicted Friday on three counts of deceiving investors in a hedge fund he ran.
According to CNBC, the 34-year-old Shkreli faces up to 20 years in prison.
“Of the eight counts, Shkreli was found guilty of three. Those included conspiracy to commit securities fraud, and two counts of securities fraud. He was found not guilty of five counts, including those related to wire fraud,” CNBC reports.
Shkreli rose to prominence after raising the price of a life-saving treatment called Daraprim by more than 5,000 percent overnight after his company bought rights to the drug. The medication is used for AIDS and cancer patients as well as pregnant women.
The episode and Shkreli’s lack of remorse led to the nick name of “Pharma Bro.”
His lack of remorse and arrogant public persona earned him the derisive media nickname “Pharma Bro.”
However, at Progressive Post Daily, we prefer “Pharma Douche.”
[image via Twitter]
