Court upholds ‘Pharma Bro’ Martin Shkreli’s conviction

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FILE – In this Thursday, July 27, 2017, file photo, Martin Shkreli, center, leaves federal court with his attorney Benjamin Brafman, left, in New York. A federal appeals court on Thursday, July 18, 2019 has upheld the securities fraud conviction against the former drug company CEO. (AP Photo/Julie Jacobson, File)

NEW YORK (AP) — A federal appeals court has upheld the securities fraud conviction against former drug company CEO Martin Shkreli.

Shkreli was sentenced to seven years in prison last year for looting a drug company he founded, Retrophin, of $11 million to pay back investors in two failed hedge funds he ran.

A message requesting comment was emailed to Shkreli’s legal team Thursday.

Before his arrest, Shkreli was best known for buying the rights to a lifesaving drug at another company in 2014 and raising the price from $13.50 to $750 per pill.

He also gained notoriety for attacking critics on social media under the moniker “Pharma Bro.” He was barred from Twitter for posts about a female journalist.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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