Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says
Martin Shkreli—the ex pharmaceutical executive infamous for illegally $1 by more than 4,000 percent and getting $1 for the fraudulent scheme he used to do it—$1 since 2022. However, according to the Federal Trade Commission and the attorneys general of seven states, Shkreli has "flagrantly and re...
Martin Shkreli—the ex-pharmaceutical executive infamous for illegally hiking the price of a lifesaving anti-parasitic drug by more than 4,000 percent and getting a seven-year prison sentence for the fraudulent scheme he used to do it—has been under a lifetime ban from the pharmaceutical industry since 2022.
However, according to the Federal Trade Commission and the attorneys general of seven states, Shkreli has "flagrantly and repeatedly" violated that ban nearly the entire time—allegedly by trading stock in dozens of drug companies and discussing the industry during livestreams on social media.
On Tuesday, the FTC and the seven states asked a federal judge to hold Shkreli in contempt for the alleged violations. The states include New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia—the same states that joined the FTC in suing Shkreli in 2020 over the "elaborate anticompetitive scheme" involving the anti-parasitic drug, Daraprim. The scheme raised the price from $17.50 per pill to $750 per pill virtually overnight, while blocking generic competitors from entering the market.
Source: Ars Technica — fetched automatically.
