Shkreli at court

Discussion in 'Wall St. News' started by Pekelo, Jun 26, 2017.

  1. dumpdapump


    Which exactly confirms my point.

    #41     Jun 27, 2017
  2. dumpdapump


    And your point being? Any juror who would not know this guy will know about all his life either during the court from the prosecutor or other jurors.

    #42     Jun 27, 2017
    hmcp likes this.
  3. Pekelo


    Relevant timeline:


    -- In February 2011, Shkreli founded Retrophin, a pharmaceutical company.

    -- That same month, Shkreli made a really bad bet shorting a biotech company called Orexigen Therapeutics. He lost $7 million for his hedge fund. He suffered $1 million in other trading losses too. With under $60,000 of assets left, MSMB halted all trading.

    -- Shkreli continued to send investors progress reports about MSMB Capital as if the company were still a healthy company, according to federal prosecutors in an indictment in December.

    -- Federal prosecutors say that between February 2011 and September 2014, Shkreli and an associate funneled money out of Retrophin to pay off debts owed by MSMB and by Shkreli, personally.


    -- In December 2012, Shkreli made a series of fake, backdated transactions to make it look like MSMB Capital had invested in Retrophin, the FBI says.


    -- Retrophin investors began to catch on, and seven demanded money from Shkreli. Between February 2013 and March 2014, Shkreli forced Retrophin to settle with the investors for $11 million, but he didn't ask the board's approval, according to the prosecutors.

    -- In August 2013, Retrophin's auditor questioned the settlements, determining that they weren't the company's responsibility. Yet Shkreli continued the settlements, which he disguised from the auditor in the form of sham "consulting" agreements.


    -- In August 2015, Retrophin sued Shkreli for $65 million, saying he used the company's assets to pay off hedge fund investors.
    #43     Jun 27, 2017
  4. Pekelo




    Our boy might have a back up plan. A year ago he reported that he was scammed out of 15 million bucks in BTC, when trying to pay for a new Kanye record. That was maybe a misdirection:

    "My theory is that Shkreli bought $15mil in bitcoins, put them on a flash drive and hid said flash drive in, like, his moms house. Then if any of his court cases go sideways he can declare bankruptcy and abscond to Russia with his flash drive."
    Last edited: Jun 27, 2017
    #44     Jun 27, 2017
    comagnum and lawrence-lugar like this.
  5. Pekelo


    1. Actually, it says the biased jurors were quickly removed. The remaining ones are the non-biased ones.
    2. My second quote showed that most people didn't even know the defendant and they complained about serving 4-6 weeks, etc.
    3. Smarter would be jurors who want to get out of serving can easily use his notoriety to show bias and thus getting rejected. Some of them perjured themselves....(one said BOTH of his parents were on Daraprim, which is highly unlikely)
    Last edited: Jun 27, 2017
    #45     Jun 27, 2017
  6. dumpdapump


    You are dreaming if you believe jurors won't have access to the entire life story of that Schmuck. He will go to jail for his investment fraud alone. And he will get himself nicely shafted by the Albanian mob inside singsing. Just what the doctor prescribed and what he deserves. End of story.

    What really interests me, though: Is Shkreli a

    Last edited: Jun 27, 2017
    #46     Jun 27, 2017
  7. Pekelo


    You should watch more TV, like Law and Order and shit. When people were called for jury duty on Monday, they didn't know what case they might serve on. There were some 46 selected for further questioning and asked back for Tuesday. Sure, they can use the internet but that is not the point. The point was if they already knew him on Monday and were biased against him or not.

    As I said, watch more TV....
    #47     Jun 27, 2017
  8. Macca1



    -- A New York federal judge has signed off on a $3 million settlement to end Retrophin Inc. shareholders’ claims that now-indicted former CEO Martin Shkreli used company funds to settle legal claims against him and his hedge fund and improperly handed out stock.

    U.S. District Judge P. Kevin Castel granted preliminary approval Monday to the $3 million settlement reached between Retrophin investors and the company and five of its former directors, including Shkreli, ending claims that Retrophin allowed Shkreli to mismanage the company’s finances and use its cash to pay off claims against his hedge fund MSMB Capital Management, allegations that also formed the basis for Shkreli’s arrest in December.

    "In the settlement motion filed Friday, the investors said that the $3 million deal was approximately 7 to 10 percent of their likely recoverable damages, noting that proving stock drops were caused by Retrophin’s disclosures of the third-party transactions and irregular stock trading would be difficult."

    “There has been no admission of wrongdoing or liability by Mr. Shkreli, and we are pleased to see that the matter has been resolved,” Vernick said.
    #48     Jun 27, 2017
  9. Macca1


    @Pekelo If this settlement claim also formed the basis of Shkreils current trial, the fact that they only settled for "7 to 10 percent of their likely recoverable damage", shows this trial is definitely not an open and shut case like you'd have us believe. Are you sure you're betting on the right side of this?

    You could be in for a jolly good slap in the face.
    #49     Jun 27, 2017
  10. Macca1


    To be more specific- I'm betting this case ends in a mistrial.
    #50     Jun 27, 2017