Total BS, he was a proven liar. It is like OJ was a proven killer. Just because the jury didn't see it that way or they thought it wasn't completely proven it doesn't make it so... His defense is like an Uber driver's excuse who gets caught for speeding 80mph in a school zone: Well, your honor nobody got hurt and my passengers got to their destination 20 minutes earlier... Completely irrelevant, he was still SPEEDING... Following the rules? The fucker BACKDATED stock certificates!!! (in a very primitive way, no less) He was misappropriating company shares, etc.etc. He should have got 6 guilty out of the 8 counts...
It is to be expected, the US is quite lenient with its own citizens when it comes to white collar (non-tax related) crime.
I wasn't trying to mislead here. I was illustrating how he pumps millions into speculative biotech plays, to the extent at which his positions can significantly impact the price. He's a madman, but don't assume he hasn't made money doing this before. Yeah no money left, besides the 5mil. Not a bad account size for someone who "cant trade for shit".
That's not a fair analogy. His investors weren't complete newbies or average Joe's with their "life" savings on the line. They were sophisticated/ high net worth investors, who were familiar with the crazy antics that Shkreli got up to. Anyone who invests in biotech knows the risks involved - One of the investors was Fred Hassan's daughter! Unbelievable really. God knows what the full story is there.
The money wasn't made by trading but has stocks because he used to own the company. BIG DIFFERENCE!!!
It is the perfect analogy, and just to take it further, your excuse is like saying the Uber passengers knew that he was a race car driver over the weekends. Again, completely irrelevant to the charges of SPEEDING. That is why he was found GUILTY on 3 accounts. The tide goes in, the tide goes out, you can't explain that... He made up the lost money not by trading (because he can't trade for shit) but using his new company's stock. He got lucky that the stock price increased, but it doesn't change the FACT he robbed and misappropriated stocks to pay his losing investors. That simple... And how did you miss his statement (aka lies) to investors having 40-50 millions on his account when he had only a few thousands? Look, you can make up silly excuses or just read the links provided...
Here is weekend reading for the easily confused, with lots of links: https://www.reddit.com/r/the_shkreli_evidence/ ----------------------------- If I was the judge, I would monitor his behaviour in the next few months, and if he keeps being a jerk, I would give him the maximum possible but at least 4-5 years. He has to serve 80% of it because it is a federal sentence... ----------------------------- About his future in court: "Shkreli still faces civil charges from the Securities and Exchange and a $65 million lawsuit filed by Retrophin, which ousted him."
After the verdict he went on Youtube live, talking confidently and arrogantly about the possible sentence.: " "No real good can come from going on YouTube after a guilty verdict," said Robert Mintz, a former federal prosecutor now in private practice. "This is exactly the kind of behavior that got him in trouble in the first place." U.S. District Judge Kiyo Matsumoto likely will factor in any lack of remorse and contrition at sentencing in federal court in Brooklyn, said Matthew Schwartz, a defense lawyer and former federal prosecutor who once worked for a Securities and Exchange Commission task force. "Going into the trial, he had an audience of 12. Now he's got an audience of one," Schwartz said, referring to the jury and judge. "He's putting himself at great risk for a higher sentence." The 34-year-old defendant faces up to 20 years in prison for his conviction on the most serious counts, though the term could be much lower under sentencing guidelines." http://www.oregonlive.com/business/index.ssf/2017/08/pharma_bro_martin_shkreli_mock.html
To start with, the judge isn't concerned about the Uber drivers passengers, the judge is concerned about the vulnerable/ inexperienced children who could have been crossing the road when the Uber driver was speeding past their school. Shkreli's investors weren't vulnerable, or inexperienced. They were sophisticated. They knew that that Shkreli could potentiality be speeding. A better analogy would be that the Uber driver was doing 50mph through a suburban neighborhood, after complaints from the passengers, the driver turned around, went back and individually apologized to all the residents, before the police were ever called out. Investor harm is the main factor in determining a sentence for securities fraud. So unlike your bad speeding analogy, investor harm,is completely relevant to the charges of securities fraud. What is also relevant is that Shkreli paid back investors before he knew there was a criminal investigation. I think you need to stand down from this thread, and hand me the reins. You're too one eyed for any decent discussion.