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☆ Appeals court upholds 'pharma bro' Martin Shkreli lifetime ban from drug industry
▼ + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

A federal appeals court Tuesday upheld a lifetime ban on "pharma bro" Martin Shkreli from working in the pharmaceuticals industry as well as an order to pay up to $64.6 million in disgorged profits for blocking competition to the drug Daraprim. His lawyer, Benjamin Brafman, in a statement to CNBC on the appeals court decision, said, "The lifetime ban is too severe." In its eight-page ruling, the appeals court noted that Shkreli argued that Manhattan federal court Judge Denise Cote "abused" her discretion in imposing a lifetime ban on him from the drug business. "The district court found, and Shkreli does not dispute, that Shkreli's illegal scheme was "egregious, deliberate, repetitive, long-running, and ultimately dangerous." "Given his strategic decision in the district court, there is no injustice to Shkreli by us declining to address his new argument."

Persons: Martin Shkreli, pharma bro, Shkreli, Benjamin Brafman, Brafman, Denise Cote, —, Peluso Organizations: Turing Pharmaceuticals AG, pharma, U.S, Circuit, New, Federal Trade Commission, CNBC, FTC, Vyera Pharmaceuticals, Phoenixus, Mr Locations: New York, California, Manhattan

☆ New York AG pushing for lifetime Trump ban cites Martin Shkreli ruling
▼ + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, exits court in New York, US, on Wednesday, Oct. 4, 2023. What does former President Donald Trump have in common with "Pharma bro" Martin Shkreli? A penchant for harshly trolling their enemies online and an attorney general who wants both of them banned for life from their preferred business. The ruling stemmed from an antitrust lawsuit James, the Federal Trade Commission, and six other states filed against Shkreli. James, in that case, asked Judge Arthur Engoron to ban Trump for life from the New York real estate industry and to bar his sons, Donald Trump Jr. and Eric Trump, from that sector for five years, along with fining them $360 million.

Persons: Martin Shkreli, Donald Trump, Pharma bro, Letitia James's, James, Judge Arthur Engoron, Donald Trump Jr, Eric Trump, Engoron, Colleen Faherty Organizations: Turing Pharmaceuticals AG, Pharma, New York, Shkreli, Trump, U.S, Circuit, New York federal, Federal Trade Commission, New Locations: New York, Manhattan, Fed

☆ Forbes built a hall of shame for all the questionable people on its 30 Under 30 lists
▼ + stars: | 2023-11-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Plenty of people on the Forbes 30 Under 30 lists have turned out to be not quite so shiny. AdvertisementThe Forbes "30 Under 30" lists celebrate the achievements of young people making a mark in a range of sectors. Its "hall of shame" starts – appropriately enough – with Sam Bankman-Fried, the FTX cofounder who was on the 30 Under 30 finance list in 2021. Caroline Ellison was on the Forbes 30 under 30 list last year. Outside the 30 Under 30 finance class, the gun rights activist Cody Wilson also makes the hall of shame.

Persons: Forbes, Sam Bankman, Martin Shkreli, —, Mark Zuckerberg, FTX, Fried, Caroline Ellison, Eduardo Munoz Alvarez Martin Shkreli, Craig Ruttle, Charlie Javice, Frank, JP Morgan Chase, Javice, Morgan, She's, Nate Paul, Lucas Duplan Clinkle, Lucas Duplan, Peter Thiel, Andreesen Horowitz, Cody Wilson, Kelly West, Steph Korey, James O'Keefe, Prendergrast, she's Organizations: Forbes, Service, Prosecutors, Justice, TechCrunch, Business, Reuters, Project Veritas, The City Magazine Locations: Alameda

☆ 'Pharma Bro' Martin Shkreli brags that Sam Bankman-Fried asked him for advice on how to serve prison time
▼ + stars: | 2023-11-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Martin Shkreli bragged that Sam Bankman-Fried asked him for advice on serving prison time. Shkreli did an interview with Tucker Carlson and said he told Bankman-Fried to "learn slang" and "invent a backstory." AdvertisementAdvertisementInfamous "Pharma Bro" Martin Shkreli, who was released from federal prison last year, bragged to Tucker Carlson that Sam Bankman-Fried asked him for advice on serving time in the slammer as the disgraced FTX founder faces the prospect of more than 100 years behind bars. That may be why Sam Bankman-Fried just asked his advice on doing time. AdvertisementAdvertisementAdditionally, Shkreli told Carlson that he believed Bankman-Fried would "most likely" go to prison for a "long time" and that he would be "screwed" behind bars.

Persons: Martin Shkreli, Sam Bankman, Fried, Shkreli, Tucker Carlson, Bankman, —, Bro, Mark Botnick, He's, Hillary Clinton, vMGiqDk4tR — Tucker Carlson, there's, Carlson Organizations: Pharma, Service, Twitter, Fox News Locations: California, Oakland, Brooklyn

☆ Martin Shkreli wants you to think his time in prison was like 'Goodfellas'
▼ + stars: | 2023-11-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Martin Shkreli described his time in prison like something out of the mob movie "Goodfellas." AdvertisementAdvertisementInfamous "Pharma Bro" Martin Shkreli described his time locked up in a federal prison like something straight out of Martin Scorsese's 1990 classic mobster movie "Goodfellas." Carlson, the ousted Fox News host, asked Shkreli, who was freed from prison last year, during the hour-long interview. Ask Martin Shkreli. And then we'd pay a guy to pay a guy to get the sauce in," Shkreli recounted.

Persons: Martin Shkreli, Shkreli, Tucker Carlson, —, Bro, Martin Scorsese's, Tucker Carlson's, Carlson, Hillary Clinton, Sam Bankman, Fried, vMGiqDk4tR — Tucker Carlson, fraudster Organizations: Service, Fox News

☆ Starbursts, smuggled coffee and Martin Shkreli: How CNBC reported the Sam Bankman-Fried trial
▼ + stars: | 2023-11-04 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

Artist: Elizabeth WilliamsJust before 8 p.m. on Thursday, 12 jurors found Sam Bankman-Fried guilty of all seven counts against him. (CNBC put out a note requesting access ahead of the trial — an email which was ultimately ignored.) Every exit to file a report included another breakneck trip through security, in a sort of run, rinse, repeat cycle — security, courtroom, exit, photographer's car to file, back up through security, over and over again. CNBC correspondent MacKenzie Sigalos reporting on the Sam Bankman-Fried trial from outside the SDNY courthouse at 500 Pearl Street in downtown Manhattan. Around 8:02 p.m., Bankman-Fried, speechless, began to walk to a room just adjacent to the main court.

Persons: Sam Bankman, Elizabeth Williams, Fried, MacKenzie Sigalos, Dan Mangan, Martin Shkreli, Andrew Ross Sorkin, Michael Lewis, Lewis, Indiana Jones, Ben McKenzie, McKenzie, Damian Williams, They'd, Danielle Sassoon, Jane Rosenberg, Joe Bankman, Barbara Fried, Joseph Bankman, Brendan Mcdermid, gaunt, Kaplan, Bankman, Mark Cohen, Judge Kaplan, blankly, Christian Everdell, Cohen Organizations: Alameda Research, Southern, of, CNBC, Auburn University totebag, Capitalism, U.S, Federal Court Locations: of New York, San Francisco, Vegas, Georgia, Manhattan, Indiana, New York City, U.S

☆ 'Pharma Bro' Martin Shkreli claims that he's made more than a dozen accounts on X, but Elon Musk keeps taking them down
▼ + stars: | 2023-08-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Martin Shkreli claims that under Elon Musk's leadership more than a dozen of his X accounts have been taken down. In total, he's tried to create up to 20 new accounts since his original was suspended in 2017, he told Fox Business. AdvertisementAdvertisementSo-called "Pharma Bro" Martin Shkreli claims that he's made himself more than a dozen accounts on the social-media platform X since Elon Musk took over, but that the site has subsequently taken them all down. "Elon preaches free speech, but his actions are showing the opposite," Shkreli told Fox Business. Shkreli told Fox Business that it was a "teasing war" and a "silly mistake."

Persons: Martin Shkreli, Elon, he's, Shkreli, Bro, Elon Musk, he'd, Musk, Daraprim, Letitia James, Kanye, Laura Loomer, Lauren Duca, Grimes Organizations: Fox Business, Morning, Elon, Twitter, Federal Trade Commission, New York, Facebook

☆ 'Pharma bro' Martin Shkreli is out of jail and living with his sister in Queens, and now earns $2,500 a month as a law firm consultant
▼ + stars: | 2023-05-24 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Martin Shkreli is out of jail and earning $2,500 a month working as a consultant at a law firm. Shkreli is also living in Queens with his sister, per a report by the US Probation Office. A year after getting out of jail, Martin Shkreli — also known as "Pharma Bro" — is earning $2,500 as a consultant for a law firm, and living with his sister in Queens, New York. However, Shkreli was released from jail early in May 2022, after which he was transferred to a halfway house, where he lived until September. Upon getting out of jail, he posted a selfie of himself on Facebook, saying: "Getting out of real prison is easier than getting out of Twitter prison."

☆ Martin Shkreli: I'm not in contempt over drug industry ban
▼ + stars: | 2023-02-10 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The ban also included a $64.6 million civil fine, which Shkreli said he is "so far unable" to pay. He said he intended to comply fully with the ban and provide requested information. The FTC had accused Shkreli last month of failing to provide information about Druglike Inc, a company it said he formed last July. He also said Druglike and DL Software were "software companies creating professional software for chemists and physicists," and thus outside his pharmaceutical industry ban. U.S. District Judge Denise Cote, who imposed the ban and $64.6 million penalty, will decide the FTC contempt motion.

☆ FTC Wants ‘Pharma Bro’ Martin Shkreli to Be Held in Contempt
▼ + stars: | 2023-01-21 | by ( Talal Ansari | ) www.wsj.com time to read: 1 min

Martin Shkreli was banned from working in the pharmaceutical industry last year. The Federal Trade Commission on Friday asked that “pharma bro” Martin Shkreli be held in contempt for failing to comply with an investigation into whether he violated a court order banning him from the pharmaceutical industry. Mr. Shkreli, who was convicted in 2017 on federal securities fraud charges involving two hedge funds he managed and a company he founded, was prohibited last year from working in the pharmaceutical industry by a federal court.

☆ FTC calls for Martin Shkreli to be held in contempt of court for forming new drug company
▼ + stars: | 2023-01-20 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Health Care For Cnbc.Com. | Mangan Has Been A Journalist For More Than Years | ) www.nbcnews.com time to read: +2 min

The Federal Trade Commission on Friday asked that notorious “pharma bro” Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge’s ban on the convicted fraudster from working in the pharmaceuticals industry. Shkreli, who was released from prison last year, in February was banned “for life from directly or indirectly participating in any manner in the pharmaceutical industry” as a result of the FTC’s antitrust lawsuit against him and a prior drug company that he founded. That order stemmed from Manhattan federal court Judge Denise Cote’s ruling that Shkreli oversaw an illegal scheme to maintain a monopoly on the life-saving drug Daraprim, which continued even as he saw in prison for his conviction in an unrelated securities fraud case. “Martin Shkreli’s failure to comply with the court’s order demonstrates a clear disregard for the law,” said Holly Vedova, director of the FTC’s Bureau of Competition, in a statement. “The FTC will not hesitate to deploy the full scope of its authorities to enable a comprehensive investigation into any potential misconduct,” Vedova said.

☆ FTC calls on federal court to hold ‘pharma bro’ Martin Shkreli in contempt
▼ + stars: | 2023-01-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —The Federal Trade Commission on Friday called for a federal court to hold “Pharma Bro” Martin Shkreli in contempt after Shkreli allegedly flouted a recent FTC investigation into his business dealings and failed to make a $64.6 million payment he owed for his prior wrongdoings. The FTC’s contempt motion follows what the agency described as its an unsuccessful attempt to verify whether Shkreli has violated a court order barring him from ever working in the pharmaceutical industry again. Shkreli also infamously raised prices for the life-saving medication Daraprim by 4,000% while he was head of Turing Pharmaceuticals. When the FTC emailed Shkreli to get documents from him and to schedule an interview about the matter, Shkreli repeatedly missed deadlines and allegedly slow-walked his responses, according to an FTC court filing Friday. The FTC also said Shkreli had been ordered to make his multimillion-dollar payment — representing a refund of his ill-gotten Daraprim gains — by March 6, 2022.

☆ FTC asks judge to hold 'pharma bro' Martin Shkreli in contempt of court for forming new drug firm
▼ + stars: | 2023-01-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

The Federal Trade Commission on Friday asked that notorious "pharma bro" Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge's ban on the convicted fraudster from working in the pharmaceuticals industry. In its court filing Friday, the FTC noted that Shkreli in July announced the formation of a new company, Druglike, "that appears to be involved in the drug industry." The FTC said Shkreli is required by Cote's order to provide the agency with that information. Benjamin Brafman, a lawyer for Shkreli, declined to comment on the FTC filing. Shkreli was driven back to New York from his prison in Pennsylvania by a friend, Edmund Sullivan, who had previously served on the board of Retrophin.

☆ U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry ban -filing
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo AllegriWASHINGTON, Jan 20 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly impeding its efforts to determine whether he flouted a ban on working in the pharmaceutical industry. Shkreli was released early from prison last May. U.S. District Judge Denise Cote imposed the lifetime drug industry ban and $64.6 million penalty last February, related to Shkreli's efforts to keep generic Daraprim rivals off the market. Reporting by Diane Bartz and Jon Stempel; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ How to get ahead in 2023
▼ + stars: | 2023-01-16 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

We've got top tips for stocks (and serving prison time), a path to financial freedom, and what to expect for the rest of 2023. If you want to start investing in real estate this year, Harr says don't be deterred by uncertainty or high-interest rates. US stocks got off to a choppy start in the first week of 2023, however, Goldman Sachs still sees attractive investing opportunities. According to Grant Sabatier, 2023 will be the year of the "the creator millionaire" — here's how he plans to take advantage of it. As one expert said: "2023 is going to be the survival of the fittest."

☆ 2022 was the year the Overconfidence Man fell back to earth
▼ + stars: | 2022-12-29 | by ( Maureen Tkacik | ) www.businessinsider.com time to read: +22 min

Naturally, Elon Musk, the platonic ideal of the peculiar self-aggrandizing, self-parodying personality type that thrived during the Trump years and peaked during the pandemic, tops this list. By 2022, the media had pronounced him variously the next Warren Buffett, J.P. Morgan and Charles Koch. "bye bye @trussliz Congrats to lettuce", tweeted Putin's one-time stand-in Dmitry Medvedev, to which Elon Musk could not resist replying, "pretty good troll tbh." Elon Musk speaks at the 2020 Satellite Conference and Exhibition in March 2020. Elon MuskIt's weird to recall now that Elon Musk once seemed like, graded on the billionaire curve anyway, a net positive for a cursed American society.

☆ 'Pharma Bro' Martin Shkreli advises Sam Bankman-Fried on potential prison time, saying he should prepare by listening to rap music and shaving his head
▼ + stars: | 2022-12-27 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Disgraced FTX co-founder Sam Bankman-Fried was arrested and faces eight criminal charges. Martin Shkreli, released from prison in May, advised him on preparing for potential prison time. He told the podcast "Unchained" that Bankman-Fried should shave his head and listen to rap music. Bankman-Fried's charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. In 2017, he was found guilty of securities fraud and was sentenced to seven years in prison.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

☆ Men charged in stock fraud case involving a small-town NJ deli are set to appear in federal court
▼ + stars: | 2022-10-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Federal prosecutors have described the case as a tale of international fraud and betrayal. Peter Coker Jr., 53, the son of Coker Sr., is based in Hong Kong and is considered at large. Federal authorities sought to jail Coker Sr. before agreeing to a conditional release. The men are charged with conspiracy to commit securities fraud, securities fraud and conspiracy to manipulate securities prices. The peculiarities surrounding Your Hometown Deli first caught the eye of hedge-fund manager David Einhorn in 2021.

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