The FTC has reportedly called on “Pharma Bro” Martin Shkreli to be held in contempt of court for allegedly disobeying terms of a recent investigation into his business dealings.
that Martin Shkreli, also known as “Pharma Bro,” has come under fire from the FTC for allegedly disobeying the terms of a recent investigation by the agency into his business dealings and failing to pay a $64.6 million fine he owed forShkreli was found guilty of securities fraud for mismanaging two investment funds in 2017. He gained notoriety for raising the cost of the life-saving drug Daraprim by 4,000% while serving as the head of Turing Pharmaceuticals.
Shkreli was prohibited from working in the pharmaceutical industry again by a court order, but the FTC made an effort to determine whether he had done so regardless of the ruling. Shkreli allegedly repeatedly missed deadlines and dragged his feet when the FTC emailed him to request documents and arrange an interview about the situation, according to a Friday court filing by the FTC.
The FTC also claimed that Shkreli was required to pay a multimillion-dollar sum by March 6, 2022, as a refund of his illegal gains. But, the FTC claims that “to date he has paid nothing toward the judgment, and has made no efforts to comply with this provision of the Order.”
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