NEW YORK — Martin Shkreli, accused of defrauding his hedge fund investors and a pharmaceutical company, was convicted on three of eight counts on Friday, after a five-week trial in U.S. District Court in Brooklyn, N.Y.Shkreli was accused of securities and wire fraud related to two hedge funds he ran, MSMB Capital and MSMB Healthcare.The prosecution brought forth an “avalanche” of evidence, as prosecutor Jacquelyn Kasulis put it in her rebuttal argument, that included a threatening letter he sent to the wife of a former employee, statements he sent to MSMB investors showing great returns at the same time he had no money in fund accounts, three versions of a backdated agreement to make it look as if MSMB Capital had invested in Retrophin when it had not, as well as claims about assets under management that were wildly out of line with his actual fund size.
NYS Entity Status
NYS Filing Date
SEPTEMBER 04, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2013 - JO FUNDING, INC.
Around the Web
- Martin Shkreli is found guilty of fraud
By Stephanie Clifford and Colin Moynihan - Friday Aug 4, 2017
- A Slump in Tech Stocks That Leaves Some Investors Mystified
By LANDON THOMAS Jr. - Monday Jun 12, 2017
Shares of Netflix, Apple and other giant technology companies that have powered a market rally have taken an uncharacteristic pause.
- Neighborhoods That Play Hard to Get
By STEFANOS CHEN - Friday Aug 11, 2017
In some New York neighborhoods, the housing stock is great, but turnover is so low, word of mouth is the best search engine.
- Retailers Experiment With a New Philosophy: Smaller Is Better
By TIFFANY HSU - Saturday Nov 18, 2017
Department stores and other retailers struggling to beat back e-commerce are taking cues from online start-ups by experimenting with small showrooms.
- Jana Takes Stake in Blue Apron
Monday Aug 14, 2017
The activist hedge fund whose investment in Whole Foods Market Inc. catalyzed the natural grocer’s takeover by Amazon.com Inc. has taken a 2% stake in meal-kit maker Blue Apron Holdings Inc.
- Index Funds Are Great for Investors, Risky for Corporate Governance
Friday Jun 23, 2017
One solution is to abstain from voting, leaving decisions to those with an incentive to be informed.