shkreli

Incarcerated fraudster Martin Shkreli says he can cure coronavirus if he's released from prison

Martin Shkreli, the universally despised ex-pharmaceutical internet troll, says he can cure coronavirus if he is released from prison early, reports Ars Technica:

“I am one of the few executives experienced in ALL aspects of drug development from molecule creation and hypothesis generation, to preclinical assessments and clinical trial design/target engagement demonstration, and manufacturing/synthesis and global logistics and deployment of medicines,” he writes in a note at the end of the document.

In short, he needs to be sprung from the pokey so he can save the world.

“I am asking for a brief furlough (3 months) to assist in research work on COVID-19,” he writes, adding that this temporary freedom won’t be a treat. “Being released to the post-COVID world is no solace to even the incarcerated.”

Image: By House Committee on Oversight and Government Reform - https://www.flickr.com/photos/oversight/25044779546/in/photostream/, Public Domain, Link Read the rest

Gorilla Rack shelving units are awesome

10 years ago we decluttered our garage and Carla bought several Gorilla Rack shelving units from Amazon. They are awesome. I've assembled shelving units before, and they required either nuts and bolts or little brackets, but the Gorilla Rack units have parts that fit together without extra hardware. I built the first shelving unit in about 30 minutes. The second one took me 15 minutes, and the third one was done in 10 minutes. The pieces fit together without any fussing and the unit is free of sharp edges. It's very sturdy, too. Read the rest

Martin Shkreli's appeal denied

Martin Shkreli, trollish ex-CEO of Turing Pharmaceuticals, who became infamous in 2015 when he jacked up the price of an HIV medication 5,000%, received some unpleasant news today, reports CNBC. The Supreme Court rejected his request for an appeal of his securities fraud conviction. That means he's going to have to serve the rest of his 7-year sentence and forfeit his $6.4 million fine.

While his fraud case was pending, Shkreli won the hearts of Trumpsters when he put a bounty on a strand of hair from Hillary Clinton's head. His tweet did not get his desired result, though. Instead, the judge revoked his bail and locked him behind bars for the remainder of the trial.

Image: House Committee on Oversight and Government Reform - https://oversight.house.gov/hearing/developments-in-the-prescription-drug-market-oversight/, Public Domain, Link Read the rest

Big Pharma's origin: how the Chicago School and private equity shifted medicine's focus from health to wealth

Between 2010 and 2016, the FDA approved 210 new medicines and every single one was produced at public expense, part of a $1T US government investment project in medical research. Despite this massive public subsidy, the pharma industry has only grown more concentrated and rapacious, raising prices and diverting the profits to their execs and investors, who now pocket 99% of industry profits: the industry made $500B in profits between 2006 and 2015, and during that time, the US government pumped $33b/year into pharma research. Read the rest

Martin Shkreli's fraud conviction upheld in federal appeals court

Fraudster Martin Shkreli, who enjoyed a brief period of notoriety as an Internet troll and pharmaceutical price-gouger, must remain in prison after a federal appeals court upheld his conviction for multiple instances of securities fraud.

From CNBC:

The three-judge panel in the U.S. Court of Appeals for the Second Circut also upheld the more than $6.4 million in forfeiture that a judge imposed on Shkreli last year when she sentenced him for his conviction on two counts of securities fraud and one count of conspiracy to commit securities fraud.

Shkreli, 36, is serving a seven-year sentence in a federal prison in Pennsylvania.

In its ruling, the appeals panel disagreed with Shkreli’s claim that his trial judge’s instructions to the jury at his trial were incorrect and confusing to jurors.

“The instruction given here correctly stated the law,” the appeals panel said in its decision. ” As such, we disagree with Shkreli that exclusion of additional language describing an element not required for the charged crime constituted a prejudicial error.”

Image: JStone/Shutterstock Read the rest

Martin Shkreli placed in solitary confinement

Martin Shkreli, infamous for hiking the prices of life-saving drugs and jailed on unrelated fraud charges, is in solitary confinement. The Wall Street Journal reported that he was running businessess from inside using a contraband phone.

One source close to Shkreli’s legal team said the fraudster was in the special housing unit (SHU) a week and a half after the article was published on March 7, but the source had not received an update on his status. But according to Justin Liverman, a fellow inmate and ex-member of notorious hacker crew Crackas With Attitude, Shkreli was indeed put in solitary and was still there as of Sunday. “Martin is in the SHU,” Liverman told Forbes.

According to the Journal, Shkreli was operating his business, Phoenixus AG, via a cellphone. The company appears to be a reincarnation of Turing Pharmaceuticals AG, which jacked up the prices of rare drugs to the fury of patients, doctors and insurers. In one of the worst examples, Turing increased the cost of a pill for patients with HIV/AIDS from $13.50 to $750.

Read the rest

After boasting about running his company from prison, Martin Shkreli gets solitary confinement

Martin Shkreli's poor impulse control continues to land him in terrible trouble: his price-gouging on lifesaving drugs didn't land him in prison, but his profligate boasting about it did (to say nothing of the revocation of his bail after he put a bounty on Hillary Clinton's hair follicles). Read the rest

After promising health care execs that Medicare for All was dead, Pelosi's team plans toothless pharma deal

If there's one issue that the Democrats could win votes with, it's limits on pharmaceutical prices, because virtually every American agrees that we're being ripped off by Big Pharma (and that goes double for Obama Democrat voters who switched to being Trump voters in 2016). Read the rest

One of pharma's most notorious gougers is going bankrupt, but 2019 is a banner year for shkreli-grade pharmaceutical price-hikes

Back in September 2016, Novum Pharma made headlines when it raised the price of Aloquin, a barely-effective acne cream from $240/tube to $10,000/tube, after acquiring the exclusive right to manufacture it. Read the rest

Shkrelifreude: while Martin Shkreli rots in prison, his price-gouging pharma company is hemorrhaging money

Smirking pharma-bro Martin Shkreli first came to public attention when he hiked the price of a drug used by people with HIV from $13.50/pill to $750/pill. Read the rest

Spectacular read: a profile of Anna Sorokin, a con-artist who convinced New York that she was a high-rolling socialite trust-funder

Jessica Pressler's long, gripping profile of con artist Anna Sorokin (AKA Anna Delvey) has all the making of a first-rate grifter novel, where the likable, unflappable rogue is revealed by inches to be a sociopath, a broken person who can't herself tell truth from fiction. Read the rest

Martin Shkreli owes IRS $1.6 million

Martin Shkreli, the imprisoned pharmacy tycoon who skyrocketed the price of an HIV drug and enjoyed a short period of trollish infamy on social media, owes the IRS more than $1.6 million, according to a court filing.

ABC news reports, "If Shkreli cannot pay, the IRS wants a piece of his other forfeited assets, including an E-Trade brokerage account, a Picasso work and the rare Wu-Tang Clan album 'Once Upon a Time in Shaolin.'"

Image: By JStone/Shutterstock Read the rest

Martin Shkreli's request for a minimum-security federal camp is denied -- he's going to prison

Fraudster Martin Shkreli will serve his seven year term at a federal prison in New Jersey instead of the minimum security camp he'd been hoping for. His new home is in the U.S. military base at Fort Dix, which he'll share with 3,945 other inmates.

From CNBC:

Shkreli's lawyer Benjamin Brafman declined to comment Wednesday. Brafman previously said that Judge Kiyo Matsumoto's ruling that Shkreli was a public danger last September would prevent him from doing his time in a minimum-security camp.

Such a camp is considered safer for inmates, and a relatively more pleasant place to do one's sentence, than facilities with higher levels of security.

Matsumoto had said Shkreli was a danger as she revoked his bail for, among other things, his bizarre offer to Facebook followers of $5,000 for each strand of hair they managed to pull off the head of Hillary Clinton, who at the time was in the midst of a book tour.

Image: By JStone/Shutterstock Read the rest

Martin Shkreli weeps as he is sentenced to 7 years in prison

Martin Shkreli, the entrepreneur famous for hiking the price of a life-saving medicine and defrauding hedge fund investors, was sentenced Friday to serve 7 years in prison.

Convicted in August on securities fraud charges, Shkreli was a sneering, smirking presence in interviews, Capitol Hill hearings and on the internet—at least until the judge tired of his antics and threw him in jail to await sentencing.

At Friday's hearing, the Wall Street Journal's Rebecca D. O'Brien wrote that Shkreli's own defense lawyer said "There are times I want to hug him...There are times when I want to punch him in the face."

Added Ben Brafman, the lawyer: "Quite frankly, I've got my begging voice on."

It was all to no avail, even after Shkreli wept and promised that he was a changed man. Judge Kiyo Matsumoto said the lengthy sentence had nothing to do with Shkreli's reputation or price-gouging. He faced up to 20 years in prison.

Now 34, Shkreli became well-known after raising the price of Daraprim, a pill used by HIV patients, from from $13.50 to $750. He was arrested on securities fraud charges over an unrelated hedge fund swizz: the prosecution contended he pilfered funds to start another company, while his defense noted he made good on the investments in the long run.

He was banned from Twitter after harassing a woman journalist there; he also fell into the habit of buying internet domains that include the names of journalists who wrote about him, including me. Read the rest

Martin Shkreli ordered to give up $7.4 million, including his one-of-a-kind Wu Tang Clan album

A federal judge ordered Martin Shkreli, who was convicted of fraud last year, to forfeit $7.4 million. This forfeiture includes a Picasso painting, his $5 million bail posting, and the one-of-a-kind Wu Tang Clan album, "Once Upon a Time in Shaolin." Don't worry, though -- after he pays the fine he'll still have $27.1 million.

From Click on Detroit:

Shkreli was convicted of fraud for deceiving investors and misusing their money while he was a portfolio manager at a hedge fund. He faces sentencing at Brooklyn Federal Court on Friday, and could potentially get up to 20 years in prison.

Image: Shutterstock Read the rest

America's large hospital chains will start manufacturing generic drugs in order to beat shkrelic price-gouging

Hospital chain Intermountain Healthcare is leading a industry consortium representing 450 hospitals in total in an initiative to manufacture their own generic drugs, either directly or through subcontractors. Read the rest

The DoJ is going to make Shkreli sell off his unreleased Wu-Tang and Lil Wayne albums, his Picasso and his Enigma machine

Pharmadouchebro/Larval Trump Martin Shkreli was convicted of securities fraud in August and then sent to jail in September for putting a bounty on a lock of Hillary Clinton's hair. Read the rest

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