Martin Shkreli violated lifetime pharma industry ban, FTC and states say
The filing says Shkreli traded 11 pharma stocks and used livestreams and social media to discuss the industry despite a lifetime ban.
- On Tuesday, the Federal Trade Commission and seven states asked a federal judge to hold Martin Shkreli in contempt, alleging he "flagrantly and repeatedly violated" a 2022 court order banning him for life from the pharmaceutical industry.
- The 2022 ban stemmed from an anti-competitive scheme involving Daraprim; Shkreli previously served more than four years in prison following a 2017 securities fraud conviction.
- Filings indicate Shkreli violated the order by broadcasting trades on YouTube, including an account starting with $10 million that traded 11 stocks such as Pfizer and Moderna.
- Daniel Guarnera, director of the FTC's Bureau of Competition, stated "when judgment is entered by a court, defendants must fulfill their obligations," as the agency seeks fines equivalent to profits from banned trades.
- Beyond public trading, Shkreli has claimed to maintain undisclosed accounts, telling viewers during a livestream that he avoids showing them because "I know feds are watching.
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US: What We Have on Shkreli Is 'Just the Tip of the Iceberg'
Martin Shkreli's exile from the drug world may not have stuck, according to regulators who say he cumulated back in almost as soon as the short told Him to get out. In a new reporting, the Federal Trade Commission and attorneys general from New York and six other states accuse...
Ars Technica
MASSIVE.NEWSMartin Shkreli livestreamed himself violating lifetime pharma ban, FTC says
I can always find a couple of biotech stocks to smoke," Shkreli said in a livestream.
FTC Seeks To Hold Notorious Pharma Bro In Contempt
CNBC reports: The Federal Trade Commission and seven states asked a federal judge in New York on Tuesday to hold notorious “Pharma bro” Martin Shkreli in contempt, alleging he “flagrantly and repeatedly violated” a 2022 civil court order that had banned him for life from the pharmaceutical industry. The FTC and the states allege that … The post FTC Seeks To Hold Notorious Pharma Bro In Contempt appeared first on Joe.My.God..
'Pharma Bro' Martin Shkreli accused of violating court order by dealing in pharmaceuticals again
Martin Shkreli, nicknamed the Pharma Bro for his callous approach to price gouging life-saving drugs, is violating the terms of his case by buying and selling pharmaceutical stocks, a coalition of federal and state authorities said Tuesday.
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