r/news Jan 14 '22 Silver 19 Gold 1 Helpful 19 Wholesome 18 Evil Cackle 3

Shkreli ordered to return $64M, is barred from drug industry

https://apnews.com/article/martin-shkreli-daraprim-profits-fb77aee9ed155f9a74204cfb13fc1130
54.9k Upvotes

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92

u/[deleted] Jan 14 '22

I’m confused - why does he get in trouble but other pharma companies don’t?

124

u/Say_no_to_doritos Jan 14 '22

He fucked hedge funds

11

u/Han_Slowlo Jan 14 '22

Not even that he fucked hedge funds. Just that he fucked them publicly. Everyone fucks everyone in business. The only thing they care about is their image to investors.

57

u/[deleted] Jan 14 '22

So it bc rich people aren’t allowed to get fucked over like us poors

70

u/persondude27 Jan 14 '22

Yes. Take a look at the Elizabeth Holmes trial.

Defrauding investors? Guilty on four counts.

Three felony counts of defrauding patients? Conspiracy to defraud patients? Not guilty.

1

u/shadowveeeeeeerse Jan 15 '22

Ok but wouldn't that be decided by a jury of poors? Why would they do that?

2

u/PaulGeorge4th Jan 15 '22

It's because he gave the middle finger to wealthy people.

8

u/Sumocolt768 Jan 15 '22

He didn’t get in trouble for hiking prices. He got in trouble for taking rich people’s money.

3

u/vitaminq Jan 15 '22

He’s in prison for charges from his prior hedge fund, before he ever got into pharma companies. He basically lied to investors about what he was investing their money in and then paid them back with another investment that did well.

These current charges are for him breaking the rules while he was in prison by continuing to run a company from his cell.

9

u/someoneinsignificant Jan 14 '22

My understanding is that he admitted to it and was too open/honest with his intentions. Price gouging is illegal but "price increases for offsetting research costs for future drugs" and "slightly changing the structure of an old drug to renew patents" are not. I totally can be wrong tho and maybe someone else knows more

3

u/Kraz_I Jan 14 '22

He’s in prison for an unrelated thing, essentially running a Ponzi scheme with his other company. He’s being fined and sanctioned now because he was illegally conducting business from prison with a contraband cell phone.