Biotech and Pharma

Jurors in Martin Shkreli case will begin deliberations Monday

Key Points
  • There are seven women and five men on the jury.
  • Martin Shkreli is accused of defrauding hedge-fund investors and looting his publicly traded company.
  • The charges are not connected to his raising a drug's price by more than 5,000 percent.
Jury deliberation for Martin Shkreli begins Monday

Jurors in the Martin Shkreli securities fraud case will begin their deliberations Monday.

The seven-woman, five-man jury, plus five alternate jurors, finished listening to more than 90 typed pages of legal instructions from Judge Kiyo Matsumoto in Brooklyn, New York, federal court late Friday afternoon.

Matsumoto then asked the panel if they wanted to start considering the charges against Shkreli right away. But they quickly told her they preferred to go home for the weekend.

Friday's court session began with Shkreli's lawyer Benjamin Brafman and assistant U.S. Attorney Jacquelyn Kasulis making their closing arguments in the trial.

Shkreli snacked on a bag of Fritos while the jury instructions were read, and also read a book.

At other times, Shkreli pulled on his hair, and twirled around in his chair, facing completely away from the jury at one point.

The 34-year-old Manhattan resident is charged with defrauding more than a half-dozen people who invested in two hedge funds he ran from 2009 through 2012.

He also is accused of looting Retrophin, the drug company he subsequently founded, of stock and cash to pay back those investors.

Shkreli denies the charges, which are unrelated to his having hiked the price of an anti-parasite drug by more than 5,000 percent while running another drug company in 2015.

The trial began in late June. Shkreli faces up to 20 years in prison if convicted, but even if found guilty of all charges he is not likely to be sentenced to more than 10 years.

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