#PharmaBro must cough up $7.4 million and stay in jail

Screenshot 2018-03-06 at 07.58.13.pngA judge has slammed Martin Shkreli with a court order that says Pharma Bro must cough up $7.4 million.

The hedge fund manager turned pharmaceutical executive cheated his investors.

Shkreli, who was convicted and is in jail, is waiting to be sentenced for defrauding investors in hedge funds he ran by lying to them about his track record and performance as well as a fraud scheme involving Retrophin Inc., a company he founded.

According to the Los Angeles Times, Shkreli cost his investors more than $20 million by inducing them to put millions of dollars into his two hedge funds, which operated essentially like Ponzi schemes.

Shkreli is also known for boosting the price of a lifesaving drug by 5,000%.


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