'Pharma bro' Martin Shkreli found guilty of 3 of 8 charges, including securities fraud- Martin Shkreli was accused of duping hedge-fund investors.
- He also was charged with ripping off the drug company he founded to repay investors.
- Shkreli faces years in prison when sentenced.
Dan Mangan | @_DanMangan
38 Mins Ago
https://www.cnbc.com/2017/08/04/pharma-bro-martin-shkreli-convicted-in-federal-fraud-case.htmlA federal jury Friday found notorious "Pharma bro" Martin Shkreli guilty of three counts of securities fraud — but acquitted him of five other crimes related to hedge funds he ran and to a drug company he founded.
The split verdict in Shkreli's trial came at about 2:37 p.m. on the fifth day of jury deliberations, after a more-than-month-long trial in Brooklyn, New York, federal court.
At that trial, prosecutors claimed Shkreli had defrauded multiple investors in his two hedge funds out of millions of dollars, only to repay them with stock and cash that he looted from a drug company he founded, Retrophin.
While the seven-woman, five-man jury clearly accepted some of the prosecution's evidence, it rejected other parts of their argument.
The split decision perplexed many in the courtroom, including the 34-year-old Shkreli himself.
He looked over quizzically at one of this lawyers, Marc Agnifilo, each of the three times Judge Kiyo Matsumoto interrupted a set of "not guilty" announcements she was reading off of the jury's verdict sheet with a "guilty" one.
Getty Images
Former pharmaceutical executive Martin Shkreli speaks to the media in front of U.S. District Court for the Eastern District of New York with members of his legal team after the jury issued a verdict, August 4, 2017 in the Brooklyn borough of New York City.
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