Shkreli would lose $65M if con­victed, de­fense lawyer says

Miami Herald - - FRONT PAGE -

A de­fense lawyer says for­mer phar­ma­ceu­ti­cal chief ex­ec­u­tive Martin Shkreli would lose a $65 mil­lion stake in a drug com­pany he founded if he’s con­victed at his se­cu­ri­ties fraud trial.

At­tor­ney Ben Braf­man made the claim Fri­day dur­ing clos­ing ar­gu­ments in fed­eral court in New York.

The lawyer told ju­rors that a drug com­pany of­fi­cial who tes­ti­fied against Shkreli was bi­ased be­cause if Shkreli is con­victed of a felony, the com­pany would get to keep his stake.

Prose­cu­tors say the 34-year-old Shkreli lied to in­vestors af­ter he lost their money. The de­fense says there was no harm be­cause he paid them back with valu­able stock.

Shkreli is best known for rais­ing the price of a life-sav­ing drug by 5,000 per­cent and trolling his crit­ics.

Jury de­lib­er­a­tions could be­gin later Fri­day.

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