Former pharmaceutical executive Martin Shkreli appeared in U.S. Federal Court yesterday (Feb. 3) with a new attorney by his side. Now represented by Benjamin Brafman, Shkreli has reportedly been forced to remain silent by his criminal defense attorney after speaking on the case on Power 105.1's morning radio show, The Breakfast Club. "I know that he has previously spoken with some of you, if not all of you, and one of the conditions of my engagement was from henceforth he does not speak with any member of the press at all until the criminal charges are resolved," Brafman told reporters.

Federal prosecutors announced that Shkreli's E-Trade account no longer has $45 million in assets after his KaloBios stock severely plummeted. In late November he was named CEO of the company, but after being arrested for securities fraud the stock account lost up to $41 million in value over the last month. KaloBios - now trading at just $2.05 - fired Skhreli on December 21.

Assistant U.S. Attorney Winston Paes took note of the decline as it was being used for Shkreli's $5 million bond - the E-Trade account is now valued at around $4 million. Shkreli may now need additional collateral as he awaits his next court appearance in Brooklyn federal court on May 3.

Source: CNBC