More charges for ex-pharma CEO who raised prices 5,000%
NEW YORK — Federal prosecutors in New York have filed additional criminal charges against a pharmaceutical executive who separately was heavily criticized for raising the price of a lifesaving malaria medication.
A new indictment filed Friday in Brooklyn says Martin Shkreli and his former attorney Evan Greebel schemed to defraud potential investors of his former drug company Retrophin Inc., based in San Diego. They say the two allocated company stock to seven employees to conceal Shkreli’s ownership of it.
Shkreli previously pleaded not guilty to charges he lost investors’ money through bad trades and looted the pharmaceutical company to pay them back.
Shkreli already was reviled because another drug company he owned raised the price of Daraprim by 5,000 percent.
Shkreli’s attorney says the allegations won’t change the “flawed theory” of the case. Greebel’s lawyer has no comment.