Martin Shkreli violated lifetime pharma industry ban, FTC and states say in contempt claim
The Federal Trade Commission and attorneys general from seven states have asked a court to hold Martin Shkreli in contempt, alleging that he violated a lifetime ban on participating in the pharmaceutical industry.
The ban followed Shkreli’s securities fraud conviction in 2017. He served more than four years in prison and was ordered to pay a $64.6 million penalty, according to the filing.
The FTC and state officials allege that after his release in May 2022, Shkreli began trading pharmaceutical company stocks. They cited his YouTube livestreams and said the account traded 11 stocks, including Pfizer and Moderna.
The officials say the trades may represent only part of the activity. The filing’s claims are allegations; the provided reporting does not state that a court has ruled on the contempt request.
Where this came from
CNBC did not allow its article to be shown here. This version was written by Sureno, in its own words, from other reporting:
- Business Insider — FTC says Martin Shkreli 'flagrantly and repeatedly' violated his lifetime pharma ban