Martin Shkreli is an American CEO and hedge fund manager.
57 Facts About Martin Shkreli
In 2017, Martin Shkreli was charged and convicted in federal court on two counts of securities fraud and one count of conspiracy for activity unrelated to the Daraprim controversy.
Martin Shkreli was sentenced to seven years in prison and up to $7.4 million in fines.
On May 18,2022, Martin Shkreli was released early from the low-security federal prison in Allenwood, Pennsylvania.
Martin Shkreli was born in Coney Island Hospital in the New York City borough of Brooklyn on March 17,1983, to Albanian immigrant parents.
Martin Shkreli's parents were Roman Catholic, and he said his religion has been "a guiding post" for him, although he does not believe in God.
Martin Shkreli's parents immigrated to the United States and worked as janitors.
Martin Shkreli was raised Catholic and attended Sunday school as a child.
Sources differ on whether Martin Shkreli graduated from Hunter or whether he was expelled before his senior year and received the credits necessary for his high school diploma through City-As-School High School.
Martin Shkreli ended up in a program that placed him in an internship at Wall Street hedge fund Cramer, Berkowitz and Company when he was 17.
Martin Shkreli received a bachelor's degree in business administration from Baruch College in 2004.
Martin Shkreli told Vanity Fair that he developed an interest in chemistry when a family member suffered from treatment-resistant depression.
Martin Shkreli's prediction drew the attention of the Securities and Exchange Commission, which investigated Martin Shkreli's knowledge about the stock but was unable to prove wrongdoing on his part.
Martin Shkreli then started his first hedge fund, Elea Capital Management, in 2006.
When stocks rose, Martin Shkreli did not have the money to cover his losses.
In September 2009, Martin Shkreli started MSMB Capital Management, which took its name from the initials of the two founding portfolio managers, Martin Shkreli and his childhood friend, Marek Biestek.
In 2011, Martin Shkreli filed requests with the FDA to reject a new cancer diagnostic device from Navidea Biopharmaceuticals and an inhalable insulin therapy from MannKind Corporation while publicly short-selling both companies' stocks, the values of which dropped after Martin Shkreli's interventions.
Martin Shkreli founded Retrophin in 2011 under the MSMB umbrella and ran it as a portfolio company with an emphasis on biotechnology, to create treatments for rare diseases.
Martin Shkreli invoked his Fifth Amendment right against self-incrimination in order to avoid testifying during civil depositions.
Martin Shkreli's name is on two patents held by Retrophin for drugs to treat PKAN.
In 2014, columnist Adam Feuerstein said Martin Shkreli was intelligent but too immature and unfocused for the job of CEO.
Martin Shkreli launched Turing with three drugs in development acquired from Retrophin: An intranasal version of ketamine for depression, an intranasal version of oxytocin, and Vecamyl for hypertension.
Martin Shkreli set a business strategy for Turing: To obtain licenses on out-of-patent medicines, and reevaluate the pricing of each in pursuit of windfall profits for the new company, without the need to develop and bring its own drugs to market.
Martin Shkreli pledged that no patient needing Daraprim would ever be denied access.
Martin Shkreli was facing a Bureau of Prisons investigation into his breaking federal prison rules, since federal inmates are prohibited both from running a business from prison and from possessing cell phones.
In November 2015, an investor group led by Martin Shkreli acquired a majority stake in KaloBios Pharmaceuticals, a biopharmaceutical company based in South San Francisco, California.
Martin Shkreli was named CEO of the company and planned to continue in the role of CEO of Turing Pharmaceuticals.
An account believed to belong to Martin Shkreli claimed, in explanation, to have been hacked.
Martin Shkreli was subpoenaed to appear before the Committee on Oversight and Government Reform of the US House of Representatives to answer questions about the Daraprim price increase.
On February 4,2016, Shkreli appeared before the House committee, along with Nancy Retzlaff, the Chief Commercial Officer of Turing, and Howard B Schiller, the interim CEO of Valeant.
Martin Shkreli refused to answer even seemingly trivial questions outside the subject matter of the hearing, including those pertaining to his purchase of a Wu-Tang Clan album.
On December 17,2015, Martin Shkreli was arrested by the FBI after a federal indictment in the US District Court for the Eastern District of New York was filed, charging him with securities fraud.
In early 2016, Martin Shkreli retained criminal defense attorney Benjamin Brafman to defend him.
At his 2017 trial, Martin Shkreli argued that none of his investors actually lost money and thus his actions did not constitute a crime.
Martin Shkreli said he was delighted with the outcome and described his prosecution as "a witch hunt of epic proportions".
Martin Shkreli's post was preceded by others that suggested he might have plans to clone Hillary Clinton.
Martin Shkreli said that his post was satire, and his lawyer described it as tasteless but not a threat.
Martin Shkreli edited the post to add a disclaimer that it was satire, and later said he did this minutes after publication.
Martin Shkreli was sent to the Metropolitan Detention Center, Brooklyn while awaiting sentencing.
On March 9,2018, Martin Shkreli was sentenced to seven years in federal prison.
Martin Shkreli appealed the conviction, but in 2019, an appeals court unanimously upheld the jury verdict.
The court ordered that if Martin Shkreli had insufficient cash to fulfill the forfeiture order, his assets, including a piece of art by Pablo Picasso, would be sold to do so.
On March 27,2018, it was reported that Judge Kiyo Matsumoto agreed to recommend Martin Shkreli serve his prison sentence at the minimum security federal camp at USP Canaan, which he had previously requested.
Martin Shkreli made a request for compassionate release on April 22,2020.
Martin Shkreli's name was redacted from the copies released to the press but she later identified herself as former Bloomberg reporter Christie Smythe.
Martin Shkreli's request stated his firm needed him to develop a remedy for COVID-19.
Martin Shkreli was moved to a halfway house where he would reside until September 2022.
The court found that Martin Shkreli had violated federal and state law through an anticompetitive scheme to delay "the entry of generic competition for at least eighteen months" and banned Martin Shkreli from the pharmaceutical industry for life.
On February 23,2022, US District Judge Kiyo Matsumoto of the US District Court for the Eastern District of New York ordered Martin Shkreli to pay a $1.39 million fine for violating securities laws between 2009 and 2014 and banned from serving as an officer or a director of any publicly traded company for life.
In March 2015, Martin Shkreli donated $1 million to Hunter College High School which was the largest donation in the school's history.
In December 2020, Martin Shkreli was in a relationship with Christie Smythe, a former reporter for Bloomberg News who broke the news of Martin Shkreli's arrest in 2015.
Martin Shkreli later founded his own team, Odyssey eSports, and aimed to qualify for the 2015 North American League of Legends Challenger Series, but the team failed.
Martin Shkreli shared the intro and one track, the day after Trump became the president-elect.
Martin Shkreli was incarcerated on unrelated fraud counts before the sale could be completed.
Martin Shkreli was a benefactor of Collect Records, a record label run by musician Geoff Rickly, and offered to bail out rapper Bobby Shmurda; Martin Shkreli retracted this offer after his own arrest.
Martin Shkreli was a fan of the American rock band Brand New.
Martin Shkreli has expressed his love for hip-hop music beyond the Wu Tang Clan and has a passion for collecting other rare items such as comic books and video games.