“The most hated man in America” was hit Friday with an additional criminal charge related to an $11 million Ponzi scheme he allegedly ran.
Federal prosecutors in Brooklyn filed a superseding indictment containing one count of conspiracy to commit securities fraud against Martin Shkreli, the pharmaceutical firm operator who made headlines for raising the price of a life-saving cancer drug by 5,000 percent.
Shkreli faces up to 20 years in prison for allegedly paying off debts from two failing hedge funds and covering up some personal expenses by skimming assets from Retrophin, a biopharmaceutical firm he ran.
The ex-chief executive of Turing Pharmaceuticals will appear in Brooklyn federal court Monday morning to possibly be arraigned on the new charge.
“There is nothing in the new indictment that changes the flawed theory of the case as applied to Mr. Shkreli,” said his lawyer Benjamin Brafman.
Shkreli is free on $5 million bond.
He and former Retrophin lawyer Evan Greebel are charged in the eight-count indictment.
Greebel’s lawyers declined to comment.
Here’s a look back at some of Shkreli’s most loathsome moments: