'Pharma bro' Martin Shkreli heads into fraud trial
Martin Shkreli, the pharmaceutical entrepreneur vilified as the "pharma bro" for raising the price of a life-saving drug by 5,000 percent, will go on trial on Monday for what U.S. prosecutors called a Ponzi-like scheme at his former hedge fund and a drug company he once ran. Prosecutors have accused Shkreli of lying to investors in the hedge fund and siphoning millions of dollars in assets from biopharmaceutical company Retrophin Inc to repay them. The trial, which will be heard by U.S. District Judge Kiyo Matsumoto in Brooklyn, is expected to last four to six weeks.
Royal Industry News
Top news stories about the automotive industry. And, news from around the world.