A federal prosecutor has told jurors in opening statements at the securities fraud trial of a former pharmaceutical company CEO that he built a bogus hedge fund empire on “lies upon lies.”
Assistant U.S. Attorney Karthik Srinivasan accused Martin Shkreli on Wednesday of losing investors’ money through bad trades, then looting a drug company for $10 million in a secret scheme to pay them back.
Though he portrayed himself as a Wall Street wizard, “In reality, he was just a con man,” the prosecutor said.
via Martin Shkreli Built Hedge Fund Empire on ‘Lies,’ Prosecutor Says at Trial Start – AP
