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Browse: Home / 2017 / June / 29 / Martin Shkreli Built Hedge Fund Empire on ‘Lies,’ Prosecutor Says at Trial Start – AP

Martin Shkreli Built Hedge Fund Empire on ‘Lies,’ Prosecutor Says at Trial Start – AP

By Securities Docket on June 29, 2017, 9:10 am

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

Posted in Criminal, Top | Tagged Trials

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