Earlier quoted context omitted.
To be fair, the quote itself says "according to prosecutors" so this is only one side of the story.
Well, 12 jurors agreed.
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Martin Shkreli is found guilty of securities fraud
81–90 of 633 posts
Re: Martin Shkreli is found guilty of securities fraud
#82Earlier quoted context omitted.
> Prosecutors argued that Shkreli lied to investors in two hedge funds and the pharmaceutical company Retrophin, all of which he founded. Shkreli told investors he graduated from Columbia University, that his hedge fund was large and profitable, and that he had hired an auditor, they said. These were all lies, according to prosecutors. yeah seems like a great dude...
Also, according to the NYT article, all investors tripled their money. "The investors who invested all made money — by the defense’s tally, more than triple what they invested."
It's not fraud if investors make money? Someone better tell Madoff that he's getting out.
Re: Martin Shkreli is found guilty of securities fraud
#83Earlier quoted context omitted.
Interestingly, his fraud seems to fall into two categories. Lying about his fund's bonafides and status on one side, and working hard to make sure those same investors got what they were expecting by founding a company, making it successful and paying them out from the profits. It sounds like he definitely lied to investors, but he apparently didn't intend to steal their money, and took pains to make sure he did not…
Are you kidding? He's human garbage, let him rot. It's astounding how people are being taken in by this con man.
He's not kidding. He's not human garbage. It's not astounding that different people have different opinions at all. Your post suggests that you're very emotionally attached to your opinion, which is not good. Nor takes into consideration some basic premises which are necessary for people to understand one another.
Re: Martin Shkreli is found guilty of securities fraud
#84Earlier quoted context omitted.
Interestingly, his fraud seems to fall into two categories. Lying about his fund's bonafides and status on one side, and working hard to make sure those same investors got what they were expecting by founding a company, making it successful and paying them out from the profits. It sounds like he definitely lied to investors, but he apparently didn't intend to steal their money, and took pains to make sure he did not…
Are you kidding? He's human garbage, let him rot. It's astounding how people are being taken in by this con man.
Plenty of people who one would classify as "human garbage" make hundreds of millions. Frankly, it does not matter.
What matters is: 1) did people lose money, due to some scam? and 2) did he do anything illegal.
Re: Martin Shkreli is found guilty of securities fraud
#85Earlier quoted context omitted.
One could argue that he hurt a lot of sick people by making it very difficult or impossible for them to afford the hundreds of percent price increases he laid upon the drugs he took control over. Edit: [0] "... it says that the drug is available for free to people with deep financial need. But Dr. Aberg has watched her patients have to "jump through the hoops" to get it. Patients have to prove both financial need and…
This is not true. The drug was given away for free to people who could not afford it. Are there any cases of what you're saying actually happening?
Tim Horn of the Treatment Action Group and Carlos del Rio of the HIV Medicine Association, said [Shkreli's] actions were insufficient, given that patients initially treated for days at a hospital typically have to continue the treatment for weeks or months after leaving.
Re: Martin Shkreli is found guilty of securities fraud
#86Earlier quoted context omitted.
Okay, I'll bite. Why do you think he's human garbage? You felt strongly enough to reply, maybe you can muster the effort to explain why you think that?
> Okay, I'll bite. Why do you think he's human garbage. Obtaining a license just to increase a drug's price from $13.50 to $750 for no apparent reason other than greed isn't enough for you?
> Obtaining a license just to increase a drug's price from $13.50 to $750 for no apparent reason other than greed isn't enough for you?
This case isn't about that. Are you suggesting we should convict and punish people on trial for one crime because we don't like their past activities and behaviors? Even if those other behaviors were illegal, they should be considered during a separate trial that's actually pertaining to them.
Re: Martin Shkreli is found guilty of securities fraud
#87Earlier quoted context omitted.
The court case doesn't have to be about that for the argument to still hold true.
1. The OP has nothing to do with the price hikes, so your argument might have been true if it was actually addressing a relevant topic 2. It's even arguable that his price hikes hurt anyone other than already rich insurance monopolies. The insurance companies would have had to cover the prices, and any people without insurance could have received the drug for free from their company. And of course the higher profits…
> It's even arguable that his price hikes hurt anyone other than already rich insurance monopolies
It is a uniquely American perspective to assume that insurance companies are some abstracted layer of infinite money that individual people needn't worry about. But then, everyone complains about insurance premiums and they wonder why they can't be lower. What irony.
Re: Martin Shkreli is found guilty of securities fraud
#88Earlier quoted context omitted.
I agree. My initial perception of Shkreli was the commonly accepted one of revulsion and hatred. After watching the Vice piece, plus a lot of Shkreli's finance talks and live streams, I find him pretty charming and unbelievably intelligent.
The outrageous price increases directly led to people dying because they couldn't afford life-saving medication. There's no redeeming yourself from that just because you're charming or intelligent. Psychopaths often are.
How many people died directly due to Martin's actions? I'm very skeptical of your claim and found nothing to back it up after a quick Google search. The first result was a Quora answer that even said that his moves resulted in no deaths. Do you have any citations for your claim?
Re: Martin Shkreli is found guilty of securities fraud
#89I use to hate this guy, then I saw the Vice interview on him. It was nice to see his side of the story. I don't know much about this case in particular. It was kinda sleazy to see the congress question him about his price increases when they knew damn well it was perfectly legal and they haven't done anything to stop it. Shkreli seems to be trying to expose this hypocrisy, but the news loves their stories. Vice inter…
What's wrong with Congress questioning someone about legal but shady activity? If he broke the law, he'd just be prosecuted. No reason for Congress to have anything to do with it. But if what he did was legal but wrong, then maybe the law should be changed, and that's exactly what Congress is for.
This is hardly the first time this happened, they could have easily made a law years ago.
Have they introduced the Shkreli Can't Endanger those Represented by Welfare Act have they?
This was a PR stunt.
Re: Martin Shkreli is found guilty of securities fraud
#90Earlier quoted context omitted.
Interestingly, his fraud seems to fall into two categories. Lying about his fund's bonafides and status on one side, and working hard to make sure those same investors got what they were expecting by founding a company, making it successful and paying them out from the profits. It sounds like he definitely lied to investors, but he apparently didn't intend to steal their money, and took pains to make sure he did not…
Are you kidding? He's human garbage, let him rot. It's astounding how people are being taken in by this con man.
Regardless of big an asshole he is based on seeing the Vice interview and thinking about the big fraud pharma industry makes me think he is actually way better than the conniving people who run big pharma.
This guy speaks out and maybe he is an asshole and suddenly everyone hates him. The rest keep their profits to themselves and we don't seem to care or mind.