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Post by liane on Dec 17, 2015 18:04:07 GMT -5
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Post by jpg on Dec 17, 2015 18:05:42 GMT -5
It certainly would be good if they brought down a few others to lighten up on a 20 year sentence...
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Post by james on Dec 17, 2015 18:14:04 GMT -5
He sure stirred up the hornets nest by raising prices on Daraprim. He might have been able to play this scam for a while longer before getting caught otherwise. What a poor excuse for a human.
Whatever happens at trial, he's radioactive now and his happy high flying lifestyle is at it's end. On top of the criminal charges, he'll have civil liability for everything he has cheated his way into.
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Post by jpg on Dec 17, 2015 18:21:51 GMT -5
It really would be fascinating if he turned states witness and exposed the greater conspiracy many of us think exists. 20 years is a very long time for a 32 year old. It certainly could happen. If they built a RICO type case (and this is what many of us suspect is going on) it could help easy targets like small biotechs at large.
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Post by BD on Dec 17, 2015 18:25:34 GMT -5
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Post by Deleted on Dec 17, 2015 18:32:04 GMT -5
Allegedly, Shkreli made secret payoffs and set up fraudulent consulting arrangements conspiring with New York lawyer Evan Greebel, who was also arrested for his part in the scheme. Retrophin sued Shkreli in August, accusing Shkreli of misusing company funds, saying that he had arranged numerous transactions between MSMB investors and Retrophin. Retrophin is asking for $65 million as well as unspecified amounts of Shkreli’s past compensation. Shkreli responded to the lawsuit, saying, “The $65 million Retrophin wants from me would not dent me. I feel great. I’m licking my chops over the suits I’m going to file against them.” He will be licking something else in jail! Does this mean if some of that fraudulently diverted money was used to directly (shorting Mannkind) or somehow indirectly to hinder Mannkind that the law firm Evan Greebel works for would have some type of liability? I ask because if this is plausible, could it be that Martin's actions hindered Mannkind as the convertible bonds came due this past summer and furthermore hampered Mannkind's fundraising efforts (or perhaps created the need for them due to what happened with the convertibles) as it pertains to the TASE offering? I looked at the website of Kaye Scholer and they have offices in Chicago, Frankfurt, London, LA, NYC, Silicon Valley, Shanghai, Washington DC and West Palm Beach. Looks like a powerful and prestigious firm. Correction, at the time the improprieties took place, Evan Greebel was working with another law firm, Katten Muchin. Wouldn't the law firm have some liability and their malpractice insurance be viewed as a piggybank for plaintiffs. www.americanlawyer.com/law-firm-profiles-result?firmname=Katten+Muchin+Rosenman&slreturn=20151117182141
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Post by peppy on Dec 17, 2015 18:42:03 GMT -5
Shkreli story was on BBC news. film in handcuffs, A minute on the story,
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Post by mindovermatter on Dec 17, 2015 19:02:12 GMT -5
He sure stirred up the hornets nest by raising prices on Daraprim. He might have been able to play this scam for a while longer before getting caught otherwise. What a poor excuse for a human. Whatever happens at trial, he's radioactive now and his happy high flying lifestyle is at it's end. On top of the criminal charges, he'll have civil liability for everything he has cheated his way into. Shkreli's actions on Daraprim might have gotten him a lot of press but this indictment against him was long in the works prior to him hiking the price of Daraprim. What we don't know and what the Gov's investigation might find is that many of the things he's done since leaving RTRX might point so criminal activity. So for example, his raising the price of Daraprim might have been for sole purpose of using those fund for his own personal needs instead of using them for research. Everything this guy has done is now open for investigation because he clearly has used his position of power and leadership to enrich himself. Thank god for the powers that be at RTRX for going after him because they could have clearly left him alone. The question now is does he know where a lot of bodies are buried and will he spill the secrets that he learned, who taught him how to do what he does and create a bigger scandal that takes down a lot more people? Shkreli, imo, is just the tip of the iceberg. He's like the brash young mobster who broke the rules of omerta and is key in bringing down the mafia.
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Post by Deleted on Dec 17, 2015 19:07:08 GMT -5
Shkreli is one stupid person. Not the lack of booksmarts dumb but the kind of dumb that just can't be fixed. His arrogance in light of his activities don't add up. He screws people out of money, moves cash around like it's his own piggy bank, and then publically gets in everyone's faces about investments, music, politics? Then screws over people who need his medication by raising the price of the drug that high? To believe that he was untouchable - total stupidity, arrogance, and a lack of understanding of basic human nature. My hope would be that he's put into a cell right next to madoff. Maybe they can argue music and politics together.
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Post by kbrion77 on Dec 17, 2015 19:33:36 GMT -5
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Post by slugworth008 on Dec 17, 2015 19:54:29 GMT -5
Shkreli arrested per cnbc securities fraud the charge. Love it and love it. This made my day. Wonder if they will connect the dots back to his recommendations about MNKD to the FDA - and the association with FDA members having husbands who are hedge-fund managers...now wouldn't that be saweet.
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Post by slugworth008 on Dec 17, 2015 19:56:15 GMT -5
One down, more to come. Fartstain and Krapper will fall too. Shrek will squeel like a pig and all hogs will be put in the pig pen where they belong. Merry Christmas, I sure Mannkind will have some smiles about this... I'll bet there are several very nervous people out there wondering what he'll say to try and save his arse.
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Post by prosper on Dec 17, 2015 20:32:19 GMT -5
I will bet, or at least assume that the govt does not have knowledge of his letter to the FDA that contributed substantially to the CRL. What he did was legal upon initial review, but forensic govt folks looking to really nail his hide would spend the money to research financial gains he may have, hell, must have had, as a result of the CRL. The feckless "overseers" at the FDA or SEC wont do this, but a state's attorney looking for political capital certainly could assign the necessary hours to go after this. Are there any people on this board that are experienced enough to reach out to the govt with info? Maybe a petition drive from this board and the loons over at ymb might get some action.
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Post by factspls88 on Dec 17, 2015 20:46:18 GMT -5
I will bet, or at least assume that the govt does not have knowledge of his letter to the FDA that contributed substantially to the CRL. What he did was legal upon initial review, but forensic govt folks looking to really nail his hide would spend the money to research financial gains he may have, hell, must have had, as a result of the CRL. The feckless "overseers" at the FDA or SEC wont do this, but a state's attorney looking for political capital certainly could assign the necessary hours to go after this. Are there any people on this board that are experienced enough to reach out to the govt with info? Maybe a petition drive from this board and the loons over at ymb might get some action. The thing is, he told the FDA he was short Mannkind in his letter. Unless he paid someone off at the FDA to revoke their approval of Afrezza and issue the CRL I doubt there's much that can be done. But then again, I'm not a lawyer.
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Post by peppy on Dec 17, 2015 20:53:09 GMT -5
It certainly would be good if they brought down a few others to lighten up on a 20 year sentence... Just a thought passing through, he seems to like the creature comforts with out too much regard for other human beings. he will squeal like a rat.
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