US Markets

Martin Shkreli loses appeal of conviction, sentence

Contributor
Jonathan Stempel Reuters
Published
Credit: REUTERS/Carlo Allegri

A federal appeals court on Thursday upheld the conviction and seven-year prison term of former pharmaceutical executive Martin Shkreli for defrauding investors in hedge funds he founded.

NEW YORK, July 18 (Reuters) - A federal appeals court on Thursday upheld the conviction and seven-year prison term of former pharmaceutical executive Martin Shkreli for defrauding investors in hedge funds he founded.

The 2nd U.S. Circuit Court of Appeals in Manhattan rejected Shkreli's argument that his jury was instructed incorrectly about securities fraud, and that the millions of dollars he was ordered to forfeit was excessive.

(Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama)

((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More

Explore US Markets

Explore

Most Popular