Court Battles

Supreme Court denies Martin Shkreli appeal of fraud conviction

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The Supreme Court on Monday declined to take up embattled financier Martin Shkreli’s appeal of his securities fraud conviction, effectively upholding his seven-year prison sentence.

Shkreli was convicted in a federal jury trial in 2017 for lying to investors about the success of two hedge funds he was running. A three-judge panel on the 2nd Circuit Court of Appeals upheld the conviction, as well as a $7.4 million forfeiture as part of the sentence.

Shkreli’s attorneys had argued that the jury instructions in the trial were confusing to jurors.

The combative “pharma bro” has been in prison since 2018 but has not shied away from controversy. Earlier this year, he sued the pharmaceutical company he founded for fraud over its efforts to remove him from its leadership.

In April, he was transferred to a different prison after he was alleged to be running a pharmaceutical company from his cell with a contraband cellphone.

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