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'Pharma Bro' Martin Shkreli Goes On Trial On Securities Fraud Charges

28 June, 2017, 05:20 | Author: Lindsay Jimenez

One called Shkreli "the face of corporate greed"; another labeled him "the most hated man in America" and a third gestured as if wringing his neck, reported the Associated Press.

While the events are unrelated, he was put into the public scope after raising the price of a life-saving drug 5,000 percent.

Blanton was one of several investors who collectively raised $3 million in 2011 to allow MSMB to launch its own drug company, Retrophin in 2011. Shkreli was arrested by the Federal Bureau of Investigation in December 2015 on charges that he used shares of Retrophin to settle debts he incurred while running his hedge fund, MSMB Capital Management.

Martin Shkreli, center, the former pharmaceutical CEO who became a pariah after raising the cost of a life-saving drug 5,000 percent, is the focus of media attention as he arrives at federal court in the Brooklyn borough of NY, for jury selection in his trial.

Shkreli's attorney Benjamin Brafman said he had objected to reporters being allowed at sidebar because of negative opinions prospective jurors might have about his client. One prospective juror told the judge that both of his parents are on Daraprin and that he has friends with HIV and AIDS who are not able to afford the drug.

Jury selection is expected to continue at least through Tuesday morning. "The price has been going up in the last few years, so they can't afford their drugs", he said.

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If convicted, he could spend up to 20 years in prison.

Further, the man said, he has several friends with H.I.V. or AIDS - people who may use Daraprim for infections - who can not afford their drugs.

Even those who didn't know who he was instinctively resented him.

And Turing is far from shaking off its association with Shkreli. The company said in a statement to Endpoints that it would review its management team and "recent credible offers that Turing has received from reputable pharmaceutical entities for the acquisition of company stock or assets".

But in order for him to do so, the court needs to find 12 impartial jurors who haven't already made up their mind about the kind of guy Shkreli is.

Matsumoto seemed delighted when she finally came across a woman in her 20s who said she hadn't heard of Shkreli or his case.


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