‘Pharma Bro’ Martin Shkreli’s sentence turns on fraud’s impact on investors, legal experts say

Former drug company executive Martin Shkreli could spend years in prison for Friday’s investor fraud conviction if the judge focuses on the intended impact of his crime and his “Pharma Bro” social media antics, according to legal experts.

Shkreli, widely criticized after he acquired rights to an infection treatment and then raised prices 5,000 percent in 2015, hopes to avoid prison because of an unusual twist to his case: defrauded investors suffered no loss from his crime.

That could favour Shkreli, because investor harm is the main factor in determining a sentence for securities fraud. However, a law enforcement source said prosecutors will challenge Shkreli’s underlying assumption of how to calculate the investor losses.

Read more at The Globe and Mail

This article is summarized by Canadian Fraud News Inc.

Kayla Kuefler is the head writer and social media producer at Canadian Fraud News. Kayla was born-and-raised in Edmonton, Alberta and moved to Toronto in 2013 to pursue her Bachelor of Journalism at Ryerson University. Kayla has previously interned at Global News Edmonton, Global News Toronto and CBC News in London, England.

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