- Burlington man charged with defrauding Syrian refugees in Qatar
- $2.6 billion award in Sino-Forest fraud case
- Ontario woman allegedly funnels over $600,000 from her employer to charities
- Fraud charges against Ottawa couple leave investors worried
- Consumer Alert - FCAC reminds consumers of the risks in giving banking information to third-party online services
A U.S. jury convicted Martin Shkreli, the brash former drug company and hedge fund executive, on Friday of defrauding investors in hedge funds he ran years before he gained fame for jacking up the price of a drug.
Jurors in U.S. District Court in Brooklyn found Shkreli guilty of two counts of securities fraud and one count of conspiracy. But they acquitted him of five conspiracy counts, including conspiracy to steal from his old drug company, Retrophin Inc.
Securities fraud carries a maximum sentence of 20 years in prison, though defendants in such cases rarely receive the maximum sentence.
Federal prosecutors had accused the 34-year-old New Yorker of lying to investors in the funds and looting Retrophin to pay them back.
Read more at The Globe and Mail