I think he actually screwed over some other rich people somehow.
The controversy surrounding drug-price increases isn’t the reason Shkreli is on trial. At the time of the Daraprim scandal, Shkreli was already under federal investigation for entirely different reasons. In late 2015, he was arrested and charged with misappropriating assets from Retrophin, a publicly traded drug company that he was running, and using those assets to conceal investor losses in separate entities, his hedge funds, MSMB Capital L.P. and MSMB Healthcare L.P. Announcing the charges, the former U.S. Attorney for the Eastern District of New York, Robert Capers, said, “Shkreli essentially ran his companies like a Ponzi scheme.” Brafman’s defense seems to be that Shkreli’s investors ultimately ended up making money on their investments, and this should excuse whatever lines he crossed in the process. (In the government’s view, those lines included misleading his investors and taking assets from Retrophin that didn’t belong to him.)
From https://www.newyorker.com/sections/business/the-strange-defense-of-martin-shkreli
No one cares about the evil things, but about FUCKING WITH THE MONEY. And other rich people rightfully realized if he wasn’t punished for something, the masses may look at the rest of them and ask questions.
What was he sent to prison for?
I also think the real cringe he did was just being too honest about it. And then nothing happened.
He left profits on the table by failing to raise the price by 10,000 percent
Why not settle at 69,000% for a nice profit?
I think he actually screwed over some other rich people somehow.
From https://www.newyorker.com/sections/business/the-strange-defense-of-martin-shkreli
Yuup.
No one cares about the evil things, but about FUCKING WITH THE MONEY. And other rich people rightfully realized if he wasn’t punished for something, the masses may look at the rest of them and ask questions.