+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

REPORTS: Martin Shkreli, the former pharma executive everyone loves to hate, may face new charges

May 3, 2016, 20:24 IST

Martin Shkreli talking to Maria Bartiromo on Fox Business Network.AP Photo/Richard Drew

Martin Shkreli, the founder of Turing Pharmaceuticals described in some quarters as the "most hated man in America," may face new charges.

Advertisement

Shkreli already faces charges he defrauded investors, but his lawyers said Tuesday that a trial should be delayed, as there may be new charges filed.

CNBC reports those additional charges against Shkreli and lawyer Evan Greebel should be announced within the month.

To recap, Shkreli has been charged by the federal government with seven counts:

  • 2 counts of securities fraud
  • 2 counts of conspiracy to commit securities fraud
  • 3 counts of conspiracy to commit wire fraud.

Shkreli, the notorious former pharma CEO, made headlines last September after he raised the price of Daraprim, a drug used to treat a parasitic infection called toxoplasmosis, by 5,000%. These charges, however, are not directly related to the price hike, but to events that happened earlier in his career, while he was managing hedge funds.

Advertisement

Shkreli's next court appearance is scheduled for June 6, CNBC reports.

NOW WATCH: THE STORY OF GOLDMAN SACHS: From foot peddlers to a powerhouse

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article