Law

Court upholds conviction of Martin Shkreli's ex-lawyer

Key Points
  • The 2nd U.S. Circuit Court of Appeals on Wednesday rejected Evan Greebel's challenge to his December 2017 conviction at a Brooklyn trial.
  • Prosecutors say Greebel helped Shkreli steal millions of dollars when he was chief executive of biopharmaceutical company Retrophin.
  • He was convicted in 2017 of fraud for looting Retrophin of $11 million to pay back investors in failed hedge funds he operated. Shkreli is serving a seven-year prison sentence.
Martin Shkreli, chief executive officer of Turing Pharmaceuticals LLC, center, and attorney Evan Greebel, left, exit federal court in New York, on Thursday, Dec. 17, 2015.
Peter Foley | Bloomberg | Getty Images

An appeals court in New York says the former lawyer of a notorious pharmaceutical executive was properly convicted in a financial fraud case.

The 2nd U.S. Circuit Court of Appeals on Wednesday rejected Evan Greebel's challenge to his December 2017 conviction at a Brooklyn trial.

Prosecutors say Greebel helped Shkreli steal millions of dollars when he was chief executive of biopharmaceutical company Retrophin.

Greebel's lawyer declined to comment. Greebel was the company's outside counsel from 2011 to 2014.

Shkreli was dubbed Pharma Bro and is perhaps best known for boosting the price of a life-saving drug and trolling his critics on social media.

He was convicted in 2017 of fraud for looting Retrophin of $11 million to pay back investors in failed hedge funds he operated. Shkreli is serving a seven-year prison sentence.

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Key Points
  • Notorious "Pharma Bro" Martin Shkreli filed suit in federal court against a Florida man, accusing him of fraudulently inducing Shkreli into signing a promissory note that has left him owing $420,000 to the man's father.
  • Shkreli is waging his legal battle from a federal prison in Pennsylvania, where he is serving a seven-year fraud sentence.
  • Shkreli gained infamy in 2015 for hiking the price of a drug called Daraprim by more than 5,000% while running another drug firm then known as Turing Pharmaceuticals.