PHILADELPHIA (KYW Newsradio) — “Pharma bro” Martin Shkreli “flagrantly and repeatedly” violated a court order banning him from the pharmaceutical industry, according to Pennsylvania Attorney General Dave Sunday, who is joining the Federal Trade Commission and six other states in asking a federal judge to hold Shkreli in contempt.
They say Shkreli traded stock in at least 60 drug companies and “used his livestreams to wage multiple public campaigns to short certain pharmaceutical company stocks based on his prediction that their key clinical trials would fail.”
In 2021, a court found Shkreli organized an illegal scheme to drive up the cost of a life-saving drug for a parasitic infection.
The judge banned him from “directly or indirectly participating in any manner in the pharmaceutical industry.”
The FTC and states are asking the judge to fine him for any profits he made on the trade and possibly sentence him to jail time.
FTC says Shkreli has ‘repeatedly’ violated his ban from the pharmaceutical industry
FTC says Shkreli has ‘repeatedly’ violated his ban from the pharmaceutical industry
