Pharma Bro jailed after judge declares him a ‘danger to society’

Discussion in 'Wall St. News' started by ajacobson, Sep 13, 2017.

  1. ET180


    I doubt it. He knows what he's doing. He intentionally likes to irritate some people.
    #21     Sep 14, 2017
    Chubbly likes this.
  2. ET180


    Actually, he attended Catholic Sunday school regularly and his parents were janitors. Doesn't sound like a spoiled rich kid story. Found that out on Wikipedia. If you're interested in him, go watch his videos on Youtube.
    #22     Sep 14, 2017
  3. Sig


    I'm a big fan of Quora. But you have to realize a single post, especially one posted by someone who describes themselves as "Lisa Whisnant, Martin Shkreli is an interesting fellow and friend." isn't necessarily accurate. Shkreli has BBA in Finance and Economics. He isn't a "researcher" and he didn't develope jack shit, although it's plausible what he calls his "fellow researchers" did. He put his name on 2 patents held by what was then a company he led because he's a classic narcissist, not because this Finance and Econ major who appears to spend most of his time on social media actually spent time in a lab developing groundbreaking drugs. "Martin had direct involvement in a new drug developed by Retrophin", again, what "direct involvement" did this guy with no background in science have besides claiming credit for something that he probably impeded rather than helped (can you imagine working for/with this jackass!). I'll reiterate, you, me and the vast majority of the people on ET have done more good in the world than this tool and almost certainly less harm.
    #23     Sep 14, 2017
    Chubbly likes this.
  4. zdreg


    the Judge has no sense of humor and neither do some posters. she was feeding the prison industry which is she a part of. the US has the highest incarceration rate in the world.
    (In October 2013, the incarceration rate of the United States of America was the highest in the world, at 716 per 100,000 of the national population. While theUnited States represents about 4.4 percent of the world's population, it houses around 22 percent of the world's prisoners.)
    #24     Sep 14, 2017
    i960 and comagnum like this.
  5. Pekelo


    There are different kind. He is a Trump kind of idiot. Both of them could have just lived their lives in quiet richness, but no, they had to do something multiple times for their egos and now they are both suffering from it..

    When you are in a county jail instead of snorting coke from whores' tits on your yacht, you are an idiot...

    And if you like his investment advice on Youtube, keep in mind, he never made money trading while he was a HF manager...
    #25     Sep 14, 2017
  6. Pekelo


    Now he is working on his street cred in jail, after all he gained so much karma with his internet cred.
    #26     Sep 14, 2017
  7. ET180


    I didn't remember the name of the drug and that was the first result that I got when I tried to find the article I previously read. A simple 10 second Google search of the drug's name would have found this article:

    So before questioning the accuracy of my post, why not check for yourself? As for the degree, really bright people don't need to go to school to learn. I think he's probably capable of teaching himself biology on his own. As for his contributions as a researcher, you're just speculating. You were not at the company and you did not work with him. You don't know. Even if he contributed absolutely nothing on the research side, he made it happen. He co-founded the company that brought a good thing to market and in doing so helped a lot of people suffering from a rare condition that did not have a cure. That's more than most people can claim. If all he cared about was money, he likely would not have focused on rare conditions. He's also financially charitable. According to Wikipedia, He donated $1M to his high school. 95% of the population does not give away that amount to charity over their entire lives. All I'm saying is that you can't judge someone's value over one event. Sure, he lied and mislead investors. That was wrong and fraudulent even though no investor lost money. But why do politicians lie, steal, and mislead the time (at least one president lied under oath) with no consequence? He's not being judged under the same standards that we hold other people to.

    The dictionary defines idiot as a stupid person. Martin is not a stupid person. He's perhaps intentionally made some bad decisions in order to be provocative, but he never would have made as much money as he did or co-founded drug companies if he was an idiot.
    #27     Sep 14, 2017
    zdreg, Macca1 and digitalnomad like this.
  8. Sig


    I simply said he did nothing to contribute to that drug, a link to results of a trial does nothing to dispel that assertion. Sorry, but this jackass didn't self-teach to the point that he developed a ground-breaking drug and he clearly went into niche drugs for rare conditions solely because he realized he could jack the price up to exorbitant sums and get away with it. The man doesn't have an ounce on altruism in him, he's a classic narcissist, and as someone with two successful startups under my belt, one with a number of co-founders, I can be pretty sure his co-founders would have not only been fine but been better off without him. He's not an idiot, he's an asshole who has accomplished nothing to make the world a better place and lots to make it a worse place. Donating $1M you stole from someone else, entirely to feed his own ego probably because of some mental anguish he suffered in said high school doesn't make him any less of an asshole. Why anyone would be an apologist for this jerk out of anything but obstinance is beyond me! Like I said, you, me, and most of ET have done more to make the world a better place, why not sing those praises instead of defending this jerk?
    #28     Sep 14, 2017
  9. ajacobson


    I suspect he has blown any chance of a light sentence.

    Martin Shkreli’s Bail Revoked as Judge Orders Him Sent to Jail
    Former pharmaceutical executive will be held until his sentencing on securities-fraud charges

    Former pharmaceutical CEO Martin Shkreli has been ordered to jail. PHOTO: RICHARD DREW/ASSOCIATED PRESS
    Rebecca Davis O’Brien
    Updated Sept. 13, 2017 7:33 p.m. ET

    A federal judge in Brooklyn on Wednesday revoked Martin Shkreli’s bail and ordered him to be detained in jail while he waits to be sentenced, finding that the former pharmaceutical executive’s pattern of online threats and harassment posed a danger to the community.

    “The fact that he continues to remain unaware of the inappropriateness of his actions or words demonstrates to me he may well be creating an ongoing risk to the community,” said U.S. District Judge Kiyo A. Matsumoto.

    Mr. Shkreli’s lawyer, Ben Brafman, tried for several minutes to convince Judge Matsumoto to let Mr. Shkreli remain free until his sentencing, now set for Jan. 16, insisting that Mr. Shkreli would refrain from using social media.

    But Assistant U.S. Attorney Jacquelyn Kasulis shook her head, saying Mr. Brafman had shown that he couldn’t control his client. “He is reckless. He knows exactly what he is doing. He needs to go in,” Ms. Kasulis said.

    Shortly after 6 p.m., Mr. Shkreli was escorted through a courtroom side door, which leads to a prisoner holding cell. Mr. Shkreli will be held at the Metropolitan Detention Center in Brooklyn.

    Mr. Shkreli, 34 years old, was convicted last month on three counts of securities fraud and securities-fraud conspiracy, in connection with his management of two hedge funds and a pharmaceutical company.

    In a court filing last week, prosecutors asked Judge Matsumoto to have Mr. Shkreli detained. The filing came several days after Mr. Shkreli posted a message on his Facebookpage in which he urged his followers to “grab a hair” from Hillary Clinton while she is on her coming book tour. In the post, he offered $5,000 per strand of hair.

    Mr. Shkreli later qualified the post as satire and told his followers not to assault anybody. On Tuesday, he wrote an apology letter filed to the court.

    In a heated court hearing Wednesday evening, Mr. Brafman described his client’s comments as “unfortunate,” adding that Mr. Shkreli communicated online through “tongue-in-cheek diatribe.” Mr. Brafman added that there was “no evidence that he intended violence.”

    But Judge Matsumoto said it wasn’t clear that Mr. Shkreli hadn’t already induced one of his 70,000 Facebook followers to commit an act of violence against Mrs. Clinton. “He is soliciting an assault on another person in exchange for $5,000,” Judge Matsumoto said.

    Judge Matsumoto also pointed to subsequent statements Mr. Shkreli had made on his Facebook page, in which he appeared to taunt the government.

    Both prosecutors and the judge also cited a statement Mr. Shkreli made on Facebook, at the end of the trial in July, in which he said if he was acquitted he would “get to have sex with” a Teen Vogue reporter with whom he has sparred on social media in the past.

    “The escalating pattern of threats and violence against women is disturbing,” Ms. Kasulis said. “He doesn’t respect the rule of law.”

    “We have to start taking these comments seriously,” Ms. Kasulis said.

    Speaking outside the courthouse after the hearing, Mr. Brafman said he was disappointed in the judge’s ruling. “But she’s the judge. Right now, we will have to live with this decision.”

    Appeared in the September 14, 2017, print edition as 'Judge Orders Martin Shkreli to Jail.'

    Recommended Videos
    #29     Sep 14, 2017
  10. Overnight


    Thanks for also posting the "recommended" video links at I will eventually find a reason iPhone and exotic-car videos should have been included in a thread about securities fraud and pharma price-gouging.
    #30     Sep 14, 2017