On Friday, Martin Shkreli — the “Pharma Bro” who infamously gouged the price of life-saving medication — was found guilty of several counts of fraud after he was accused of mismanaging two investment funds.
After five days of deliberation, a jury in Brooklyn convicted the 34-year-old on two counts of securities fraud and a single count of conspiracy. Shkreli was acquitted on five other charges, including those related to wire fraud.
The controversial investor faces up to 20 years in prison when sentenced.
We’ll keep you posted as more information becomes available.