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Former Hedge Fund Manager Convicted In Multi-Million Dollar Fraud Scheme

August 4, 2017

BROOKLYN, NY (August 4, 2017) -- Martin Shkreli was convicted today by a federal jury in Brooklyn of three counts of a superseding indictment charging him with securities fraud and securities fraud conspiracy. The verdict followed a six-week trial before United States District Judge Kiyo A. Matsumoto. Shkreli was the founder and managing member of hedge funds MSMB Capital Management LP (MSMB Capital) and MSMB Healthcare Management LP (MSMB Healthcare), and the former Chief Executive Officer of Retrophin Inc. (Retrophin), a biopharmaceutical company that trades under the ticker symbol RTRX.

Updated August 9, 2017