Martin Shkreli, chief executive officer of Turing Pharmaceuticals LLC, exits federal court in New York, US, on Thursday, December 17, 2015. Shkreli was arrested on alleged securities fraud related to Retrophin Inc., a biotech firm he founded in 2011. (credit: Louis Lanzano/Bloomberg via Getty Images)
Today, Martin Shkreli, the reviled former pharmaceutical CEO best known for price-gouging a life-saving drug, running an alleged Ponzi-like scheme, and smirking, had the date for his trial on securities fraud charges set to June 26, 2017 in New York.
Shkreli, 33, has been indicted on eight charges in connection with the alleged Ponzi-like scheme, in which he swindled his former pharmaceutical company, Retrophin, out of $11 million in order to cover and hide losses from two hedge funds he managed. He was arrested back in December along with his former counsel, Evan Greebel. Both have pled not guilty to all charges and Shkreli was released on $5 million bail that he posted with an E-trade account worth $45 million at the time.
Since then, the pair have had their court proceedings delayed after Shkreli fired his legal team and federal prosecutors added additional charges.
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