‘Pharma Bro’ Shkreli’s lawyer convicted in fraud trial

NEW YORK: A former lawyer for ‘Pharma Bro’ Martin Shkreli has been found guilty of helping the disgraced executive and hedge fund manager commit fraud.

Evan Greebel was convicted Wednesday of conspiracy to commit securities fraud and conspiracy to commit wire fraud following an 11-week trial in New York, the US Department of Justice said in a statement.

He faces up to 20 years in prison at his sentencing hearing which will take place at a later date.

Greebel was found to have conspired in a scheme to misappropriate the assets of Retrophin, Shkreli’s first pharmaceutical firm, to pay off defrauded investors in Shkreli’s hedge funds.

He was also found guilty of attempting to illegally control the price and trading volume of Retrophin’s stock, thereby defrauding investors and potential investors.

“Today’s verdict sends a powerful message that this Office, together with our law enforcement partners, will hold lawyers accountable when they use their legal expertise to facilitate the commission of crimes,” said Bridget M Rohde, an acting US attorney.

Shkreli, once dubbed ‘The Most Hated Man in America’ was convicted in August of conspiracy to commit securities fraud and two counts of securities fraud, and is currently awaiting sentencing. — AFP