Infamous villain Martin Shkreli always pays to be the absolute worst
Here’s a riddle for you: how to turn an infamous pharma-bro into just a plain old bro?
If you’re Martin Shkreli, the former hedge fund manager turned pharmaceutical CEO turned convicted felon, the answer is: you get a federal judge to bar you from participating in the pharmaceutical industry “for whatever reason.” title whatsoever” for the rest. of your life.
Shkreli, who gained widespread notoriety in 2015 for raising the price of AIDS drug Daraprim by 5,000%, was ordered on Friday to pay a massive $64.6 million fine and stay away from industry that made him a household name for the rest of his time on Earth.
In a novel-length ruling, U.S. District Judge Denise Cote of the Southern District of New York justified Shkreli’s punishment, writing that her “gross, deliberate, repetitive, long-lasting, and ultimately dangerous unlawful conduct justifies the punishment of Shkreli.” imposition of an injunction of this scope.”
After dramatically raising the price of lifesaving drugs, Shkreli seemed to relish his new position as a poster boy for unchecked corporate greed and shamelessness, harassing journalists, pledging his support for Donald Trump in the election 2016 presidential election (Trump later called him a “spoiled brat”), and the purchase of a single Wu Tang Clan album to start a feud with one of the band’s founding members. He has been charged with securities fraud by the Federal Trade Commission and a number of states, and is currently still in prison serving a seven-year sentence on those counts. Despite his incarceration, New York State Attorney General Letitia James accused Shkreli of continuing to profit from his criminal enterprise maneuvers, serving him with a lawsuit in early 2020 that claimed his considerable fortune was the result of establishing an illegal monopoly for Daraprim which ensured that it could raise the price unreasonably without competition.
“We have filed this lawsuit to stop [Shkreli’s company] Vyera’s egregious conduct makes the company pay for its illegal intrigues and prevents Martin Shkreli from working in the pharmaceutical industry again,” James said in a statement when the lawsuit was first filed. “We will not allow ‘Pharma Bros’ to manipulate the market and line their pockets at the expense of vulnerable patients and the healthcare system.”
Now, nearly two years later, it looks like James has gotten his wish. In his decision, Cote agreed with James’ characterization of Shkreli’s continued criminality behind bars, writing, “He maintained ‘parallel control’ of the business, remaining in close contact with the directors and officers of Vyera, providing advice on how to keep control of the market, and threatening to use his authority as a major shareholder to call an extraordinary general meeting (“AGE”) that would install more docile leaders and administrators. »
James celebrated Friday’s decision on Twitter with a specially crafted word from Wu Tang to troll the now 38-year-old criminal.
It’s tough, mate.