Thread: Martin Shkreli

It Turns Out That The Feds Have Been Onto Martin Shkreli For Years

By Thornton McEnery - Jan 28, 2016 at 10:08 AM




Not the Casanova you were expecting.

Someday, the story of Martin Shkreli will come to an end. But before that happens we can revel in a douche spectacle that seems to treat onlookers to an endless buffet of bizarre plot twists. http://dealbreaker.com/tag/martin-shkreli/

The almost willfully insufferable Shkreli has led us through legal drug villainy, Wu-Tang Clan albums, odious romance, Ponzi schemes, subpoenas and even Congress. But through it all, Martin has maintained that he is merely a victim of his own awful personality. He has argued at every turn that the sudden infamy brought about by his mathematically cruel price-gouging of a lifesaving drug has made him – an innocently greedy man – into a villain. And because he is the Dipsh!t Jean Valjean of his time, Shkreli has spent the last few days decreeing on social media that he will plead the fifth before Congress, because he will not participate in this whirlwind witch hunt! http://dealbreaker.com/2016/01/marti...al-law-expert/

Well this being the story of Martin Shkreli, we knew that at least most of that would turn out to be riddled with factual holes.

Cue Reuters: http://www.reuters.com/article/us-us...-idUSKCN0V52MB

Days before Martin Shkreli’s arrest for securities fraud, U.S. prosecutors obtained a secret court order ruling that communications between the former pharmaceutical executive and a corporate lawyer also under investigation were not protected by attorney-client privilege.

The order by U.S. District Judge Jack Weinstein in Brooklyn, New York, unsealed on Tuesday, provides a glimpse into how prosecutors built their case against Shkreli during his time as a hedge fund manager and CEO of drug company Retrophin Inc.

The Feds have been onto Shkreli for years, and his behavior has been so galling that Federal judges are willing to suspend privilege. Oh, Martin.

According to the unsealed records, Retrophin in May 2014 and January 2015 received grand jury subpoenas in connection with the investigation that sought communications between Shkreli and Greebel.
Retrophin agreed to waive attorney-client privilege for those communications. But Shkreli argued Greebel was also his personal lawyer and that the company could not waive that protection, the records said.
As a result, Retrophin produced some documents with redactions, prompting prosecutors on Nov. 17 to seek their full disclosure.

On Dec. 3, Weinstein ruled the documents were not covered by attorney-client privilege and were “probably” related to company business or criminal conduct.

Wait, Martin has known that he’s been under investigation since mid-2014?

That’s a twist.

“The unsealed records provided new insight on how long Shkreli was under investigation. Retrophin previously disclosed receiving a grand jury subpoena in January 2015, but had not previously referred to one in May 2014.
The U.S. Securities and Exchange Commission had separately launched a related civil investigation in 2012, Retrophin has said.

Prosecutors in court papers filed on Monday in the SEC’s civil case said Shkreli provided testimony to the SEC in August 2013 and February 2014.

2013? Wow.

So the entire notion that Martin is the victim of public opinion related to his price-gouging is actually a space-time impossibilty? And he’s been getting squeezed by Feds for years, and still goes out and spends $2 million on a Wu Tang album? http://dealbreaker.com/2015/12/marti...-taylor-swift/ That’s some Bobby Axlerod sh!t, bro.

http://dealbreaker.com/2016/01/feds-...i-go-way-back/

Martin Shkreli (born 1983) is an American entrepreneur and financial and pharmaceutical executive. He is co-founder of the hedge fund MSMB Capital Management, co-founder and former chief executive officer (CEO) of the biotechnology firm Retrophin LLC, and founder and former CEO of Turing Pharmaceuticals AG. In 2011, Shkreli filed requests with the FDA to reject a new cancer diagnostic device from Navidea Biopharmaceuticals and an inhalable insulin therapy from MannKind Corporation while publicly short-selling both companies' stocks, the values of which dropped after Shkreli's interventions. In September 2015, Shkreli received widespread criticism when Turing obtained the manufacturing license for the antiparasitic drug Daraprim and raised its price by 5,556 percent (from US$13.50 to US$750 per tablet).

On December 17, 2015, Shkreli was arrested by the FBI on charges of securities fraud and released on bail. He resigned as CEO of Turing Pharmaceuticals and was replaced by the company's board chairman, Ron Tilles.

https://en.wikipedia.org/wiki/Martin_Shkreli