Judge wants more details on ex-drug executive Shkreli’s finances | Reuters

Former drug company executive Martin Shkreli should reveal more about his finances if he wants his $5 million bail cut to $2 million, a Brooklyn federal judge said Monday, a week before Shkreli is set to face trial on securities fraud charges.

Lawyers for Shkreli, who drew public outrage after raising the price of a life-saving drug 5,000 percent when he was CEO of Turing Pharmaceuticals in 2015, said in a court filing last week that he needed the $3 million to pay back taxes and his lawyers and accountants. Federal prosecutors have not agreed to the request.

U.S. District Judge Kiyo Matsumoto did not rule on Shkreli’s request at a hearing on Monday, but said she would be “reluctant” to release the money without knowing more about what assets Shkreli had and what he had done to liquidate them.

Shkreli has pleaded not guilty to criminal charges involving his management of his…

Read the full content from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *