Martin Shkreli A.K.A “The Pharma Bro”, was convicted in August of defrauding investors, and is currently being held in jail while he awaits sentencing for the charges. It looks like “Pharma Bro” wasn’t out here swindling and scamming folks alone. At least the courts don’t think so.
Bloomberg Business (@business) reports, Former Pharma Bro lawyer, Evan Grebel was found guilty of scheming with Shkreli to defraud a pharmaceutical firm. Grebel, who, advised companies, including Retrophin Inc., was found guilty Wednesday of helping Shkreli steal $11 million from the company to pay back investors after Shkreli lost their money in risky trades.
Grebel’s wife burst out into tears while she watched from the gallery as the verdict was read. Grebel’s attorney, Reed Brodsky, blamed the verdict on Grebel’s association with Shkreli. “We’re just shocked by the decision. Shkreli himself is so toxic that it’s hard to, in today’s environment, get justice.” Reed said after the verdict. After a 10-week trial, Grebels was convicted of conspiracy to commit wire fraud for helping Shkreli steal from Retrophin and conspiracy to commit securities fraud for helping him manipulate company shares. Grebel’s remains free on bail until sentencing, when he faces 20-years in prison maximum when sentenced.