The post Who is Martin Shkreli? His many scandals revealed appeared on BitcoinEthereumNews.com.

From deceiving hedge fund investors to dramatically hiking the price of life-saving drugs, Shkreli isn’t necessarily someone who should be welcomed into crypto with open arms. He was once described as “the most hated man in America.”  Martin Shkreli has never been shy of causing controversy — with scandal continuously following him during a career that’s led him to the inside of a jail cell.  The 41-year-old — nicknamed “Pharma Bro” — is now darkening the doors of crypto, and most recently claimed to be involved in TrumpCoin, which took social media by storm. But what is Shkreli’s background, and should the crypto space be welcoming him with open arms as it vies to establish credibility in the eyes of investors?  ‘The face of corporate greed’ Shkreli sparked outrage in 2015 when his pharmaceutical company bought the rights to a drug used to treat a parasitic infection and hiked the price from $13.50 to $750 a tablet overnight. It meant some patients using Daraprim would be left with a bill worth hundreds of thousands of dollars a year. He was later charged and convicted of securities fraud — with a jury finding that he had deceived investors in his hedge funds. During that trial, prosecutors claimed Shkreli had openly bragged about having $40 million in assets under management. It had $300 in the bank. They went on to allege that investors had lost out to the tune of $11 million. The entrepreneur would go on to describe the verdict as “a witch hunt of epic proportions” — but at the time, even his own lawyer admitted his brash style on social media was a problem. “There is an image issue that Martin and I are going to be discussing in the next few days.” Ben Brafman in 2017 The following…

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Filed under: News - @ June 26, 2024 4:16 pm