Martin Shkreli found guilty, convicted of securities fraud
The former pharmaceutical exec, who once trolled Wu-Tang and Lil Wayne, faces prison time.
Martin Shkreli has been making headlines since 2015 when he became the owner of the Wu-Tang Clan’s rare multimillion-dollar album, Once Upon a Time in Shaolin. Shortly after that, he was arrested for securities fraud, announced his plans to bail Bobby Shmurda out of jail, threatened Ghostface Killah, made an offer to Kanye West to buy the exclusive rights to The Life of Pablo, leaked the aforementioned Wu-Tang album with a livestream, and did the same to Lil Wayne’s Tha Carter V.
Let’s not forget he was also the pharmaceutical exec responsible for increasing the cost of an AIDS-related drug from $13.50 per pill to $750.
Now, Shkreli has finally been found guilty of those 2015 charges that stemmed from him illegally taking assets from one of his companies to pay off debts owed to money-losing investors in another.
Today, he was convicted on two counts of securities fraud and a single count of conspiracy. He faces 20 years in prison.
However, a jury did clear him of five other charges. And Shkreli remained optimistic outside the courthouse, saying, “This was a witch hunt of epic proportions. Even though they may have found one or two brooms.”