'Pharma Bro' Shkreli trial verdict: Guilty on 3 counts of 8

'Pharma Bro' Shkreli trial verdict: Guilty on 3 counts of 8

A NY jury convicted Shkreli on Friday of three of eight charges, including securities fraud, Bloomberg reports. He was found not guilty of five counts, including those related to wire fraud.

Shkreli also said that if he got any jail time, it would be at "club Fed", a term that describes low-security prisons with less harsh environments than other facilities.

He nearly immediately afterward used his new Twitter account, @samthemanTP, to comment on the outcome of the case, and also started a livestream on YouTube from his apartment. After the verdict was read, Shkreli stood outside the courthouse and said that he was "delighted, in many ways" with the result, and that "this was a witch hunt of epic proportions".

Most federal felons don't do a livestream on YouTube an hour or so after hearing a jury find them guilty.

A brief footnote in the criminal lawsuit filed against the 59-year old Shkreli clarified, "This is not the same Martin Shkreli who is now on trial in the Eastern District of NY".

Matsumoto postponed setting a sentencing date, after Brafman noted that the defense also will be filing a motion asking her to overturn the jury's guilty verdicts.

Prosecutors said Shkreli illegally took stock from his biotechnology firm, Retrophin Inc., and used it to pay off debts from a failed hedge fund - which is illegal.

He quoted one witness who compared Shkreli to the Dustin Hoffman character in Oscar-winning 1988 movie "Rain Man", and said he battled depression and anxiety. "Today's conviction shows that those who corrupt the market will ultimately be brought to justice".

After the conviction, Shkreli said that he was he was glad to be exonerated on numerous charges and "we're delighted in many ways".

Complicating the case however, was testimony from some wealthy financiers in Texas, who conceded that Shkreli's scheme made them richer, in some cases doubling and even tripling their money on his company's stock when it went public. He was a lightning rod for criticism over the price hike, as well as his behavior during congressional hearings on drug prices.

In January of this year, he was kicked off Twitter and Periscope after making unwanted advances toward a magazine editor.

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