
Martin Shkreli sentenced to seven years in prison for defrauding investors - fmihaila
https://www.washingtonpost.com/news/business/wp/2018/03/09/martin-shkreli-to-be-sentenced-friday-faces-more-than-decade-in-prison/
======
shlorn
Shkreli's youtube streams on finance were always pretty interesting and if you
omit is trollish behavior, he generally was very respectable and seemed to
enjoy teaching people about medicine, mathematics and finance. The videos are
available online and I think reflect a different personality than the one he
presented in public.

~~~
chaoticmass
I watched one of his finance videos and it was oddly entertaining and very
interesting. He was clearly very smart. Sort of sad he wasted his talents.

------
rbcgerard
I vaguely recall that his investors actually made money - he lied to them, but
actually made them money....

~~~
seanhunter
His legal team said that, but of course that doesn't mean he didn't commit
fraud. As I understand it, he took money from his pharmaceutical company to
cover up trading losses in his fund. The fact that investors all made money
doesn't change a)that this is almost certainly criminal in and of itself if
you don't 100% own both the fund and the company b)pharma investors would have
made more money had he not taken some of their cash and given it to investors
in his fund.

Edit: And of course reporting requirements. If you're investing with other
people's money, you don't get to make a huge loss just disappear and not tell
people about it. There are a bunch of laws about that sort of thing.

~~~
rbcgerard
not saying that he didn't defraud his investors - just pointing out that I was
under the impression that his fraud did not economically harm his investors
(which is rarely the case in these prosecutions) and puts his sentence in a
different light to a certain extent...

------
justboxing
Active Discussion =>
[https://news.ycombinator.com/item?id=16554019](https://news.ycombinator.com/item?id=16554019)

