Shkreli is hit with a brand-new charge, pleads innocent

Martin Shkreli in 86 seconds
Martin Shkreli pleaded not guilty in a Brooklyn court Monday to a new charge submitted against him. Shkreli, the poster boy for outrageous drug cost hikes, has actually been struck with an extra criminal charge of conspiracy to dedicate securities fraud, originating from Shkreli’s tenure as CEO of the biopharma business Retrophin (RTRX) from 2012 to 2014. He and his supposed accomplice, legal representative Evan Greebel, are implicated of tricking investors about the trading of Retrophin securities. They each face an overall of 8 counts of scams, and conspiracy to commit scams charges. Shkreli and Greebel supposedly lied to financiers about the devastating performance of the hedge funds Elea Capital Management, MSMB Capital Management and MSMB Healthcare, from 2006 to 2012. They’re likewise accused of unlawfully siphoning cash from Retrophin to settle the MSMB funds’ bad market bets. Martin Shkreli, right, pictured last month with his attorney Ben Brafman, return to court. “The brand-new indictment adds nothing to the flawed theory of the case against Mr. Shkreli,” his legal representative Benjamin Brafman said in an e-mail to CNNMoney. Shkreli didn’t appear worried about it, either. On Friday, he live streamed for hours, chatting with fans and playing video games in his pajamas. He said that he expects to invest a minimum of $10 million on his legal defense for the trial, which may not begin up until next year. “When it starts, it’s going to be chaos,” he stated. “It’s going to be like the [WWE pay-for-view] Royal Rumble. I wish to offer tickets.” He also said that he’s preparing to discover blended martial arts, simply in case his attorneys can’t keep him from jail. Related: Martin Shkreli faces more charges Shkreli was arrested in December and struck with 7 charges related to his disastrous period as a portfolio supervisor. “I am positive I will dominate,” tweeted Shkreli at the time of his arrest. “The claims against me are baseless and without benefit.” But Shkreli has actually not been charged for the move that actually made him famous: Treking the cost of Daraprim, a drug for HELP and cancer clients, by 5,000% over night. During his appearance at a Congressional hearing in February about drug price hikes, he rolled his eyes and smirked while pleading the Fifth Modification. He slammed the “imbecile” lawmakers on Twitter (TWTR, Tech30). Brafman, who has actually represented Michael Jackson, Jay-Z, Sean “Diddy” Combs and Dominque Strauss-Kahn, informed CNBC previously in 2012 that he wants Shkreli to lay off the social networks and keep a “low profile.”

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