martin shkreli case. provide summary of the case describing the fraud he commite
ID: 373395 • Letter: M
Question
martin shkreli case. provide summary of the case describing the fraud he commited
Martin Shkreli was convicted after being accused of misleading investors about how he was using their money. He told a series of lies upon lies claiming that he had $40 million in one of his funds when he only had about $300. The case was further complicated after some investors said during the trial that Shkreli’s scheme helped them make more money.
He was acquitted of counts one and two, conspiracy to commit securities fraud and conspiracy to commit wire fraud regarding MSMB Capital; counts four and five, the same charges with MSMB Healthcare; and count seven, conspiracy to commit wire fraud with regard to defrauding Retrophin by using funds from it to pay MSMB investors.
Count seven carried the most weight for sentencing, charging Mr. Shkreli with defrauding Retrophin by creating sham consulting agreements and unauthorized settlement agreements to pay back MSMB investors.
Explanation / Answer
martin shkreli case. provide summary of the case describing the fraud he commited
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