August 4, 2017

Martin Shkreli, “Pharma Bro,” Convicted of Fraud

The former pharmaceuticals executive was accused of defrauding investors to pay off debts.

Martin Shkreli, the former pharmaceuticals executive notorious for price-gouging a drug used to fight AIDS, has been found guilty on three counts of securities fraud for lying to investors to cover unrelated debts. He faces up to 20 years in prison.

He was convicted Friday by a federal jury in Brooklyn. In 2015, it was reported Shkreli increased drug prices by more than 5,000 percent. The revelation garnered him the nickname “pharma bro” and a reputation as the “most hated man in America.”

“This was a witch hunt of epic proportions and maybe they found one or two broomsticks,” Shkreli said in response to the conviction on Friday.

This is a breaking news post. We will update when more information becomes available.

DECEMBER IS MAKE OR BREAK

A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

The December 31 deadline is closing in fast. To reach our $400,000 goal, we need readers who’ve never given before to join the ranks of MoJo donors. And we need our steadfast supporters to give again—any amount today.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do.

That’s why we need you right now. Please chip in to help close the gap.

DECEMBER IS MAKE OR BREAK

A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

The December 31 deadline is closing in fast. To reach our $400,000 goal, we need readers who’ve never given before to join the ranks of MoJo donors. And we need our steadfast supporters to give again—any amount today.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do.

That’s why we need you right now. Please chip in to help close the gap.

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate