Martin Shkreli was convicted on 3 counts of securities fraud and one count of conspiracy for mishandling two investment funds. While the former pharmaceutical CEO was also acquitted on 5 other counts of conspiracy, securities fraud carries a maximum prison term of 20 years.
Prosecutors accused Shkreli of running a Ponzi scheme between 2009 and 2014 that robbed investors of $11 million. Shhreli gained notoriety after drastically raising the prices on a AIDS drug from $13.50 per pill to $750 while he was CEO of Turing Pharmaceuticals. Hours before the verdict was handed down, he was on social media claiming that if he goes to jail it would be a 'club fed' where he'll 'play tennis and Xbox' for a few months.
Check out a video of Shkreli reacting to the verdict.
Source: CNN
