'Pharma Bro' Martin Shkreli Convicted Of Securities Fraud
A federal jury in Brooklyn, N.Y., has convicted former pharmaceutical executive and "pharma bro" Martin Shkreli of securities fraud. He was found guilty Friday on three counts — two counts of securities fraud and one count of conspiracy to commit securities fraud — out of a total of eight counts. Shkreli is best known for increasing the price of a life-saving drug for people with AIDS by 5,000 percent, from $13.50 to $750 per pill, when he was head of Turing Pharmaceuticals. Shkreli has not been sentenced and faces up to 20 years in prison, as WSHU's Charles Lane tells our Newscast unit. Still, he declared victory when he was acquitted of what he termed the most "important charges." "After the verdict was read, Shkreli and his lawyer said they were pleased and anticipated a light sentencing with minimal fines and no jail time," Lane reported. "During the trial, Shkreli openly mocked prosecutors and ultimately never took the stand in his de...