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

[Omaha Steve]

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

[Evolve Dammit]

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

[Auggie]

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

[Sherman A1]

3. It's a start

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

[Mr.Bill]

4. Is he still in prison? n/t

[Eugene]

5. Still serving a 7-year sentence.

Low security in Allenwood, PA.

[FailureToCommunicate]

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

[LudwigPastorius]

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!

[The Wizard]

15. The GQP is a magnet

for liars and thieves .

[Initech]

8. Good, fuck that guy!

[BigmanPigman]

9. They should seize all of his assets,

including music collectibles.

[electric_blue68]

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

[ificandream]

11. I hope this ass rots in prision

He deserves it.

[Yo_Mama_Been_Loggin]

12. Great

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

[Stuart G]

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

[LetMyPeopleVote]

14. This makes me smile

Link to tweet

[intheflow]

16. lol.

[TheFarseer]

17. Now we just need to get

Practically every other drug exec.

[azureblue]

18. Like Machin's daughter

Why is she getting away with drug price gouging?

[TheFarseer]

19. She knows the right people nt

[cab67]

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.