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☆ Martin Shkreli is accused of making copies of his one-of-a-kind Wu-Tang Clan album before he sold it for $4.75 million
▼ + stars: | 2024-06-13 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read preview"Pharma bro" Martin Shkreli has been accused in a lawsuit of making and sharing copies of a supposedly one-of-a-kind Wu-Tang Clan album before he sold it for $4.75 million. The Wu-Tang Clan album that was forfeited by Martin Shkreli, in a handout photo dated July 2021. UNITED STATES MARSHALS SERVICE/ReutersBut it went on to describe multiple alleged examples of Shkreli either playing the album on livestreams or bragging about how many copies he has. During one livestream, during which he is alleged to have played the album, Shkreli said, per the lawsuit: "Of course I made MP3 copies, they're like hidden in safes all around the world." In other comments cited in the lawsuit, Shkreli suggested he'd "sold" copies and that more than 5,000 people had copies.

Persons: —, bro, Martin Shkreli, Wu, Tang, Shkreli, Wu - Tang Clan, PleasrDAO, he's Organizations: Service, Business, Wu -, Guardian, UNITED STATES, SERVICE

☆ Judge bars 'pharma bro' Martin Shkreli from streaming Wu-Tang Clan album after suit says he copied it
▼ + stars: | 2024-06-12 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

A federal judge temporarily barred notorious "pharma bro" Martin Shkreli from streaming or disseminating copies of a one-of-a-kind Wu-Tang Clan album he had forfeited as part of his criminal fraud conviction in 2017. Steven Cooper, a lawyer for PleasrDAO, said Wednesday that he could not comment on whether he has been in touch with prosecutors on Shkreli's alleged violation of his forfeiture order. Shkreli bought the Wu-Tang Clan album in 2015 for $2 million, setting a Guinness world record for the most expensive musical work ever sold. The 31-track, two-disc Wu-Tang Clan album, came in a hand-carved, nickel-and-silver-cased box set, which itself was nestled in a larger leather box. At the time of the sale, Shkreli owed almost $2.4 million on the forfeiture order.

Persons: Martin Shkreli, Benjamin Brafman, bro, Martin, Wu, Tang, Pamela Chen, Shkreli, Chen, Steven Cooper, PleasrDAO, Cooper, Lil Wayne, Carter, Pablo Picasso, Wu - Tang Organizations: U.S, CNBC, pharma, Wu - Locations: Brooklyn, New York City, U.S, Brooklyn , New York, Cayman Islands, Tasmania, Australia, United States

☆ Wu-Tang Clan: Fans can finally get a chance to listen to the band’s one copy album… but there’s a catch
▼ + stars: | 2024-05-28 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

Wu-Tang Clan first announced in March 2014 that it would produce one copy of “Once Upon a Time in Shaolin” to be sold to the highest bidder. The album came in a hand-carved box with a leather-bound book of parchment paper containing lyrics and its backstory. The Wu-Tang Clan originated as a group of rappers from Staten Island, New York in the 1990s. In 2015, notorious “Pharma Bro” Martin Shkreli bagged the album for about $2 million – making it the world’s most expensive music album ever sold at the time. In 2021, the US Justice Department then sold the album without disclosing the buyer.

Persons: CNN —, ”, Wu, Jarrod Rawlins, “, ” Rawlins, Tang, ” Wu, Robert “ RZA ” Diggs, Forbes, RZA, Tang Clan, Bob Berg, Pharma Bro ” Martin Shkreli, Shkreli, Jon Lynn, PleasrDAO Organizations: CNN, Museum, Mona, Tang Clan, Pharma, America ”, Turing Pharmaceuticals, US Justice Department, DoJ, New Art Digital, New York Times Locations: Tang, Tasmania, Staten Island , New York, Shkreli, America

☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
▼ + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.

Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US

☆ David Einhorn was once the young thorn in the side of executives. Now he's dealing with his own.
▼ + stars: | 2024-05-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn 1996, David Einhorn founded Greenlight with less than $1 million in capital — a good chunk of which came from his parents — at the precocious age of 27. And now the 55-year-old is dealing with something he once was: a thorn in the side. Fishback sued his old firm for defamation in October, which is now in arbitration, according to a person familiar with the case. Thursday, Fishback said he was invited to debate Tesla with his old boss, saying Einhorn didn't understand Musk's company's "core value driver" of autonomy.

Persons: —, David Einhorn, sayer, sneering, Elon Musk, Einhorn, He's, year's Sohn, James Fishback, Fishback's, Fishback, Greenlight, Pharma Bro, Martin Shkreli, — Fishback, Tesla, Fishback —, Free Press —, I'm Organizations: Service, Business, Lehman Brothers, Allied, Tesla, Pharma, Free Press Locations: —, New York, Bari

☆ Sam Bankman-Fried considered going on Tucker Carlson's show and railing 'against the woke agenda' after FTX's collapse
▼ + stars: | 2024-03-15 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

The most striking item on the list was going on then-Fox News host Tucker Carlson's show to "come out as a republican." "Talk about how the cartel of lawyers is destroying value and throwing entrepreneurs under the bus in order to cover up the incompetence of lawyers," Bankman-Fried memorialized. Numerous former executives and associates testified that Bankman-Fried commingled funds of FTX customers with Alameda Research, a cryptocurrency trading firm he also controlled. Bankman-Fried wrote that he could highlight that aspect of his political spending on Carlson's show. In another list, Bankman-Fried came up with a list of "Allies."

Persons: —, FTX, Sam Bankman, Michael Lewis, Lewis, Tucker Carlson's, Fried, Bernie Madoff's, Lewis Kaplan, Carlson, they'd, ANGELA WEISS, Martin Shkreli, Cory Booker of, Matt Levine, Levine, Odd Organizations: Service, ABC, Business, Fox News, US, Office, Southern, of, of New York, Alameda Research, Twitter, Getty, Congressional, Allies, Bloomberg Locations: of New, Manhattan, Cory Booker of New Jersey

☆ Trump May Face Harsh Punishment Thanks to a Mighty New York Law
▼ + stars: | 2024-02-16 | by ( Ben Protess | Jonah E. Bromwich | ) www.nytimes.com time to read: +1 min

That might seem steep in a case with no victim calling for redress and no star witness pointing the finger at Mr. Trump. But a little-known 70-year-old law made the punishment possible. The law, often referred to by its shorthand, 63(12), which stems from its place in New York’s rule book, is a regulatory bazooka for the state’s attorney general, Letitia James. In the Trump case, Ms. James accused the former president of inflating his net worth to obtain favorable loans and other financial benefits. Mr. Trump, she argued, defrauded his lenders.

Persons: Donald J, Trump, Letitia James, Martin Shkreli, James Organizations: Exxon Mobil, pharma Locations: New York, New

☆ 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

☆ 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

☆ '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

☆ 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

NEW YORK (AP) — Donald Trump isn’t used to constraints. Trump is not only a former president, but also the leading candidate for the 2024 Republican presidential nomination. Just days ago, he was fined $5,000 for violating the same gag order, which Engoron imposed after Trump targeted his principal law clerk on social media. Indeed, things are likely to get much more complicated for Trump in the coming months as his four criminal trials get underway. New York court officials have beefed up security for judges and court personnel involved in Trump matters in the wake of the threats.

Persons: — Donald Trump isn’t, Trump, “, ” Judge Arthur Engoron, ”, Jimmy Gurule, Engoron, Radical Left Democrat ”, Letitia James “, ” Gurule, jailing, Gurule, overshadowing, Laurie Levenson, he’s, —, Jack Smith, ” Levenson, Martin Shkreli, Hillary Clinton’s, Sam Bankman, Smith, “ weaklings, Aileen Cannon, Juan Manuel Merchan, ” Engoron, fining Trump, ___ Tucker, Durkin Richer, Michael R, Michelle L, Price, Jake Offenhartz, Jennifer Peltz Organizations: White, Republican, Notre Dame, Radical Left Democrat, New York, Trump, Loyola Law School, ” Prosecutors, Associated Press Locations: New York, York, Brooklyn, Manhattan, Washington, Trump, Boston, Sisak

☆ '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-founded drug company files for bankruptcy
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Vyera said its bankruptcy was the result of declining profits, increased competition for generic drugs, and litigation alleging that Vyera suppressed competition for its most valuable drug, Daraprim. Daraprim is a life-saving anti-parasitic medicine that Shkreli infamously raised the price on by more than 4000% and worked to choke off generic competition for after the company acquired the drug in 2015. Vyera filed a Chapter 11 plan in court on Wednesday, laying out it its intent to repay creditors through asset sales. Vyera said that recently-sold vouchers have fetched prices between $95 million and $120 million in sales that have occurred since 2020. Vyera listed Duane Morris as its largest unsecured creditor in its bankruptcy filing, with a $2.1 million asserted debt.

☆ Convicted Pharma Fraudster Shkreli’s Companies File For Bankruptcy
▼ + stars: | 2023-05-10 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Vyera Pharmaceuticals, the company that Martin Shkreli founded and used to conduct a securities fraud that landed him in prison, filed for bankruptcy Wednesday. Vyera, its Swiss parent company Phoenixus and several affiliates filed for protection in the U.S. Bankruptcy Court in Wilmington, Del. after the reputational harm from Mr. Shkreli’s fraud hampered them from opening bank accounts, commercializing products or raising capital, court papers say. A lawyer who has represented Mr. Shkreli didn’t immediately respond to a request...

☆ Google search is bad and getting worse. Here's how search is evolving in the era of AI.
▼ + stars: | 2023-03-09 | by ( Mason Pelt | ) www.businessinsider.com time to read: +12 min

He says Google search is worse than ever, and the company isn't financially incentivized to fix it. Google search is worse than it was three years ago. People use Google search in two waysPeople use Google to either find general information where any credible source is acceptable. Searching, "who is Neil Gaiman," or "list of the endless in the Neil Gaiman series" will likely give searchers the answers they seek. That sentence's chaotic grammatical mess is a window into the Google search results pages.

☆ 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.

☆ 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.

☆ 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.

☆ 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.

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