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Fri Jan 14, 2022, 06:04 PM

Shkreli ordered to return $64M, is barred from drug industry

Source: AP

By MICHAEL R. SISAK and JENNIFER PELTZ

NEW YORK (AP) — Martin Shkreli must return $64.6 million in profits he and his former company reaped from jacking up the price and monopolizing the market for a lifesaving drug, a federal judge ruled Friday while also barring the provocative, imprisoned ex-CEO from the pharmaceutical industry for the rest of his life.

U.S. District Judge Denise Cote’s ruling came several weeks after a seven-day bench trial in December that featured recordings of conversations that Cote said showed Shkreli continuing to exert control over the company, Vyera Pharmaceuticals LLC, from behind bars and discussing ways to thwart generic versions of its lucrative drug, Daraprim.

“Shkreli was no side player in, or a ‘remote, unrelated’ beneficiary of Vyera’s scheme,” Cote wrote in a 135-page opinion. “He was the mastermind of its illegal conduct and the person principally responsible for it throughout the years.”

The Federal Trade Commission and seven states brought the case in 2020 against the man known in the media as “Pharma Bro,” about two years after he was sentenced to prison in an unrelated securities fraud scheme.



FILE - Former Turing Pharmaceuticals CEO Martin Shkreli attends the House Committee on Oversight and Reform Committee hearing on Capitol Hill in Washington, Feb. 4, 2016. A federal judge on Friday, Jan. 14, 2022 ordered Shkreli to return $64.6 million in profits he and his company reaped from inflating the price of the life-saving drug Daraprim and barred him from participating in the pharmaceutical industry for the rest of his life. (AP Photo/Susan Walsh, File)


Read more: https://apnews.com/article/martin-shkreli-daraprim-profits-fb77aee9ed155f9a74204cfb13fc1130

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Reply Shkreli ordered to return $64M, is barred from drug industry (Original post)
Omaha Steve Friday OP
Evolve Dammit Friday #1
Auggie Friday #2
Sherman A1 Friday #3
Mr.Bill Friday #4
Eugene Friday #5
FailureToCommunicate Friday #6
LudwigPastorius Friday #7
The Wizard Saturday #15
Initech Friday #8
BigmanPigman Friday #9
electric_blue68 Friday #10
ificandream Friday #11
Yo_Mama_Been_Loggin Saturday #12
Stuart G Saturday #13
LetMyPeopleVote Saturday #14
intheflow Saturday #16
TheFarseer Saturday #17
azureblue Saturday #18
TheFarseer Sunday #19
cab67 Sunday #20

Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 06:12 PM

1. Fuck this little prick. Hope the loss of cash hurts but suspect he has much more.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 06:13 PM

2. Great news. Unfortunately, there is more than one way to rip-off those with health needs.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 06:21 PM

3. It's a start

penniless, standing on a street corner in rags selling pencils would be much more preferable.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 06:29 PM

4. Is he still in prison? n/t

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Response to Mr.Bill (Reply #4)

Fri Jan 14, 2022, 06:41 PM

5. Still serving a 7-year sentence.

Low security in Allenwood, PA.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 06:45 PM

6. Good. He has such a punchable face...too bad he's in prison.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 07:17 PM

7. "...barred him from participating in the pharmaceutical industry for the rest of his life."


Shkreli is eligible for release in September 2023, after he turns 40 years old.

Ladies and gentlemen, your next Republican nominee for President of the United States!

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Response to LudwigPastorius (Reply #7)

Sat Jan 15, 2022, 01:25 PM

15. The GQP is a magnet

for liars and thieves .

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 07:27 PM

8. Good, fuck that guy!

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 07:46 PM

9. They should seize all of his assets,

including music collectibles.

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 10:03 PM

10. Oh! This is great to hear, damn uber greedy bastard!

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Response to Omaha Steve (Original post)

Fri Jan 14, 2022, 10:08 PM

11. I hope this ass rots in prision

He deserves it.

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Response to Omaha Steve (Original post)

Sat Jan 15, 2022, 12:53 AM

12. Great

No longer see the smirk on this smug asshole's face.

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Response to Omaha Steve (Original post)

Sat Jan 15, 2022, 01:29 AM

13. Thanks for Posting. K & R..Another selfish AS**OLE that thought he could get away with it, FOREVER.&

WITH NO CONSEQUENCES WHAT SO EVER..

.. I GUESS THERE ARE CONSEQUENCES. FAR MORE THAN HE EXPECTED

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Response to Omaha Steve (Original post)

Sat Jan 15, 2022, 01:44 AM

14. This makes me smile

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Response to Omaha Steve (Original post)

Sat Jan 15, 2022, 05:18 PM

16. lol.

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Response to Omaha Steve (Original post)

Sat Jan 15, 2022, 07:55 PM

17. Now we just need to get

Practically every other drug exec.

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Response to TheFarseer (Reply #17)

Sat Jan 15, 2022, 10:25 PM

18. Like Machin's daughter

Why is she getting away with drug price gouging?

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Response to azureblue (Reply #18)

Sun Jan 16, 2022, 12:01 AM

19. She knows the right people nt

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Response to Omaha Steve (Original post)

Sun Jan 16, 2022, 12:52 PM

20. Honest question -

To whom is the money to be returned? Investors? Customers? And how is that done?

Serious question here - I honestly don’t know.

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