All language subtitles for American Greed s12e01 The Most Hated Man in America.eng

In this episode of American Greed.

I love being the tampon.

It's a gift from God.

Don't you agree?

Martin Shkreli, the hedge fund manager,
investor, and pharmaceutical CEO, is a

social media mainstay, exhibiting a
questionable social conscience.

He raises the price of this drug, which
benefits probably the most empathetic

group of people on the planet.

Babies, pregnant women, and AIDS
patients.

By jacking the prize of a life -saving
drug 5 ,000%, he earns the title of the

most hated man in America.

But a quick look at his posts on social
media reveals that's fine by him.

Are you going to change the price?

No. He wants Martin Shkreli to be a
household name.

And I'm not sure that he minds that it's
infamy, that it's a notorious name.

Despite being indicted on several counts
of securities fraud, this Internet

troll doesn't think he has to answer to
anybody.

No questions from CNBC. I'm sorry.

Until one Facebook post gets the
attention of the Secret Service.

Oh, you done went too far now, you
stupid prick.

Can Martin Shkreli learn his lesson?

Or is the pharma bro hooked on his own
hype?

New York City.

eight million stories mine's the best

in

the summer of 2015

Legendary hip -hop group the Wu -Tang
Clan is in the midst of the

private sale of its album Once Upon a
Time in Shaolin.

To hip -hop personality and self
-professed Wu -Tang fanatic Charlamagne

God, the sale is a statement.

It was actually to bring the value back
to music.

That's what they wanted to do. They
wanted to create this singular piece of

This has been called the Nickel Silver.

we decided, hey, there's a world -famous
logo of the Wu -Tang Clan within this

beautiful pattern, treated as an art
piece, which it is.

The Wu -Tang Clan is protesting the
rampant piracy in the music industry.

If the public isn't willing to pay for
their music, they won't make it

to them.

The terms of the agreement say that the
buyer cannot share the album with

anyone.

Lifelong fans will conceivably never get
to hear it.

This won't be an album for the people,
but for the elite.

More specifically, one singular member
of the elite.

But even given that fact, there's one
thing the Wu -Tang Clan couldn't have

anticipated.

The buyer is going to be the most hated
man in America.

I don't think Wu -Tang should be looked
upon negatively for selling that album

to Martin. Like, they sold him an album.
Like, we didn't know he was a douche.

Some people saw signs.

In the early 2000s, Caroline Stewart is
a Wall Street stock analyst who

publishes recommendations for biotech
stocks.

And one morning, after advising against
the stock Shkreli is high on, she says

he ambushes her with an unsolicited and
insulting phone call.

There are times when you get nasty phone
calls from people who hold the opposite

viewpoint as you on any particular
stock.

But he's the only instance I could think
of where it was actually meant to

ridicule. And it quickly devolved into
sort of a mockery of me where he started

to ask questions that were obviously
meant to just make me feel stupid.

But years later, they meet again when
Shkreli is running a hedge fund of his

own.

And this time, things are much more
cordial.

He offered to take me on as a
consultant.

And I was, again, extremely grateful,
and I jumped at the chance.

The company is called MSMB Capital, a
hedge fund that specializes in

biotech and pharmaceutical investing.

It's a red -hot industry on Wall Street,
and one Stewart knows well.

She works for the fund as an analyst.

But beyond researching stocks, she
doesn't know much about the inner

the company.

It was very strange because as far as I
could tell, there was no audited

performance record.

And I didn't know how much he had in
assets under management.

He was very secretive. He was very, very
secretive about things.

Well, ostensibly, MSNBCapital was
supposed to be a hedge fund, a true

fund. It's supposed to have equal
amounts of short and long positions, so

minimizes the risk to investors of a
substantial loss.

That's how he pitched it to investors.

Shkreli tells investors that in the
bustle of high -powered investment

the heart of the world's biggest
financial market, he will work harder

smarter than everyone else.

There were maybe four of us crammed into
this little room, and it was intense.

It was by far the most intense work
experience I'd ever had.

It seems to be paying off as investors
begin to get behind the fund and its

leader. He made connections with people.

He made connections with one person,
that person introduced another person,

he cultivated these relationships.

among investors, people that ended up
being willing to put capital into his

hedge fund.

People on Wall Street are there for a
reason. It's because they want to make

money, and money is very important to
them. And so everybody's kind of

by it, and everybody wants to, you know,
jump on that coattail.

But one day, that coattail drags them
into the mud.

He took a very aggressive short position
on a stock called the Rexachin.

And that stock trade failed
spectacularly. It blew up, and it lost

all of MS &B's, or effectively all of MS
&B Capital's money.

So he was broke.

According to Stewart, Shkreli keeps the
destruction of the fund to himself, even

hiding it from employees.

But for days afterwards, Stewart can see
Shkreli's roaring fire extinguished.

He seemed very deflated.

And, you know, the lights in the office
were off.

He was slumped in his chair. He had his
hoodie up.

And I felt bad for him because this is a
normally very hyper person, if you

will, and very aggressive, ambitious,
who suddenly, you know, was more like a

dog with his tail between its legs.

And it was sometime a little later that
he told me that.

The fund had blown up, and then he told
me that he owed Bank of America Merrill

Lynch $10 million.

According to the government, Shkreli
never reveals that detail to investors.

In fact, he'd been keeping a lot from
them.

There's no evidence that at any point he
was trading in the manner that he was

describing to the investors. There's no
evidence that he had the amount of

assets under management that he claimed
to have.

There's no evidence.

that he performed well with their money,
there is significant evidence that he

quickly burned through their money that
they pledged with him.

But the government asserts that Shkreli
continues to tell investors everything

is doing great.

He's smart and he keeps on going.

He turns what's negative news and he
puts a really positive spin on it and he

keeps going.

Within a few days, he had...

come up with a survival plan.

He starts this new hedge fund, MSNB
Healthcare, and he follows the same

that he did with MSNB Capital.

He lures investors in with the promises
of the fund's going to be fully hedged,

it's going to behave in the proper
manner, it has this auditor, it has this

firm that keeps an eye on things, and he
has this great track record.

And none of that was true.

But MSMB Healthcare is only the
beginning.

He brags, boasts, and smooth talks his
way into getting investors to put money

into a much more ambitious venture.

A new drug company of his own creation,
Retrophin.

Instead of like the classic scenario of
a guy in his laboratory slaving away for

years to... create the drug that's going
to save people.

Martin is looking for kind of a market
opportunity, a financial market

opportunity, in much the same way that
he claimed to be looking for market

opportunities in buying pharmaceutical
stock.

The difference here, instead of buying a
stock in equity, he's buying an actual

asset, a drug.

There are virtual biotech companies, and
a lot of companies get formed because

you have an entrepreneur who is able to
scour the universe for maybe drugs that

have failed in the past, drugs that were
put aside from pharma companies because

they weren't going to be profitable
enough.

You can even go to academia, right,
where a lot of the work is done and say,

this looks like a promising compound.
I'll in -license it from you, and I'll

develop it.

But Shkreli needs money to buy the
licenses for these drugs.

And he owes investors and banks millions
of dollars.

He has a big hole to fill and knows one
way to fill it. So immediately after he

formed the company, of course, he's on a
mad dash to collect money.

Shkreli never tells investors that MSMB
Capital is broke.

But he suddenly announces that he is
closing the hedge fund.

despite its purported success to focus
entirely on retrophin.

Which surprised just about every
investor. It's like, well, why?

Everything is going great. Why would you
close this up?

He said you can either take the money in
cash and get it within a month or so,

or you can get the equivalent amount in
retrofit stock.

He was hoping, clearly, that people
would take the retrofit stock because

delays having to pay these investors to
make them whole.

This was akin to, you know, a performer
who's got a bunch of plates spinning on

sticks, and he's keeping the plates
spinning.

Most investors ask to take the cash from
MSNB Capital.

But Scrummy doesn't have the money.

And many investors believe he simply
ignores them and does whatever he wants.

Martin, as smart as he is, is completely
fiscally irresponsible.

You know, as soon as he raised his
money, I think he almost views it as

I think that Martin knew full well that
he was misrepresenting what he was doing

with people's money.

And I think that the history shows here,
the evidence shows, that instead of

doing kind of the grunt work of managing
people's money on a daily basis in a

way that he claims to be managed, that
he's looking for a quick hit, a quick

return.

It doesn't appear that the Grandmaster
of Wall Street is playing chess.

He seems to be rolling the dice.

But then a funny thing happens.

His number comes up.

When American Greed returns, Martin
Shkreli becomes the face of rapacious

drug pricing and has no problem letting
everyone know it.

Usually when you have that kind of
negative attention, executives tend to

quiet. He did the opposite of that.

After MSMB Capital goes broke in 2011,
Martin Shkreli looks to pursue

a different business model.

He's not going to bet on Wall Street.

Wall Street is going to bet on him.

His startup company, Retrophin, begins
licensing relatively obscure

And in a move that will later make him
infamous, he raises their prices.

It's just the medicine his company
needs.

And Retrophin returns enormous profits.

But despite getting his bragging rights
back, Things aren't so rosy within

Retrophin, particularly from the
perspective of its board of directors.

He was still relatively young, and they
saw him as not having the skill set

necessary to be the CEO of a publicly
traded company that was looking to grow.

They saw him as more of kind of an
innovator, a creator, an idea business

strategy guy.

And Martin did not take that well at
all.

Shkreli stands up to the board of
directors, and they don't flinch.

He's fired from the company.

But once again, Martin is Martin. The
sun will rise another day.

He creates another company in
Retrophin's image called Turing

And before long, he becomes famous, but
for troubling reasons.

Martin Shkreli bought...

a drug that was decades old. It was used
for very rare but serious infections

that affect really vulnerable people,
HIV patients, cancer patients, pregnant

women, people with suppressed immune
systems. And he raised the price by 5

% overnight.

Dr. Carlos Del Rio is a board member of
the HIV Medicine Association.

And he says Daraprim is a drug that
treats a disease called toxoplasmosis,

can affect anyone.

But in patients with immune system
deficiencies, it can be extremely

even deadly.

They'll get an absence in the brain.
That's called a toxoplasmosis

They can get a meningitis. They can get
an infection in their heart.

In a pregnant woman, toxoplasmosis can
lead to fetal loss and can lead to, if

not a loss, a severely malformed or
diseased baby.

Ever since 1953, Daraprim has been an
effective treatment for toxoplasmosis.

But when Shkreli raises the price of a
single pill from $13 .50 to

$750,

the treatment becomes far less
available.

When I would call my hospital and say, I
need Daraprim, and they said, well, you

know, we don't have it because in order
to stock the medication, it used to cost

us, you know, $3 ,000 to stock the
medication. Now it's costing us a

dollars.

What that means to a patient is, you
know, somebody comes in with toxic

lesmosis, they're in the ICU, they have
a seizure, and it may take the hospital

two to three days to get the medication
that you need to give the patient right

away.

The HIV Medicine Association writes an
open letter about the price hike.

and it soon gains national attention.

The New York Times has a story about
this price hike, and instead of issuing

this kind of like bland statement, you
know, that business people often do in

cases like this, Martin gives an
interview, and he's unapologetic about

price hike.

And Martin Shkreli joins us now from the
NASDAQ. He's the CEO of Turing

Pharmaceuticals. Martin, thank you for
joining us. Thanks for having me.

Martin Shkreli embraced his role in the
limelight and seemed to do everything he

could to stay there.

At this price, Airprim is still actually
on the low end of what orphan drugs

cost, and we're certainly not the first
company to raise drug prices.

What's striking about Martin is that
when he's in trouble like this, and in a

situation which will lead many people to
hunker down and kind of like hope it

all blows over, he sticks his neck out
even further and dares people to cut it

off.

On camera, in front of the entire world,
Shkreli doesn't apologize for the price

hike. He makes his case for it.

So, in essence, we're taking the revenue
from Daraprim and trying to come up

with a better, safer, more effective
version of it.

According to Dr. Del Rio and dozens of
advocacy groups, Shkreli's case is bad

medicine.

It's an argument that simply holds no
water, and there's no need for other

for toxoplasmosis.

In September of 2016, the issue gains
the attention of the two people in the

center of the national spotlight.

With this young guy, raise the price to
a level that's absolutely ridiculous,

and he looks like a spoiled brat to me.
You want to know the truth?

He looks like a spoiled brat.

There's no excuse. Look.

We want companies to get a fair return.
That's the way our system works. There's

no excuse from going from $13 .50 to
$750 for one pill.

Shkreli argues that his little drug
Daraprim was such a tiny part of the

care world that it wouldn't have an
impact either on health care costs or

directly on patients because he said
that insurance should cover it.

Dr. Del Rio says Shkreli isn't exactly
wrong.

But he's not on the right side either.

In the big scheme of things, this is not
the cause that our health care is going

broke. But I think it's not the cause,
but it's a symptom of what the problems

are.

I would say that nothing that is being
done is illegal, but I think it's

immoral.

And yes, I would qualify it as greedy.

The United States Congress sees it the
same way.

When American Greed returns, Martin
Shkreli seems willing to dish it out as

as he takes it until Capitol Hill gives
him a taste of his own medicine.

The way I see it, you can go down in
history as the poster boy for greedy

company executives, or you can change
the system.

Yeah, you.

He is a brash self -promoter who's
called himself the world's most eligible

bachelor, but this morning he was in
handcuffs, accused of duping investors

of millions of dollars.

On December 17, 2015, Martin Shkreli is
arrested and indicted on eight

criminal counts of securities fraud by
the Department of Justice for his time

with MSNB Capital and his subsequent
dealings.

Clearly, the charges aren't related to
raising the price of Daraprim.

But that doesn't mean he's off the hook
for it.

Another branch of government wants
answers for that. In February 2016,

the U .S. Congress brings him forward to
testify about rapacious drug pricing.

And the outspoken CEO is suddenly
silent.

What do you say to that signal?

pregnant woman who might have AIDS, no
income, and she needs

Daraprim in order to survive.

What do you say to her when she has to
make that choice? What do you say to

On the advice of counsel, I invoke my
Fifth Amendment privilege against self

-incrimination and respectfully decline
to answer your question.

Do you think you've done anything wrong?

On the advice of counsel, I invoke my
Fifth Amendment privilege.

against self -incrimination, and
respectfully declined to answer your

He gets dragged before Congress to
testify, and he's contemptuous.

He's rolling his eyes at the
Congressman. Instead of being

taunting the people that are criticizing
him.

You can look away if you like, but I
wish you could see the faces of people,

matter what Ms.

Redlap says, who cannot get the drugs.

Did they need him, by the way? And then
when he was finally excused because he

kept telling them he wasn't going to
answer their question, he immediately

tweeted that the congressmen are
imbeciles.

Despite being in the crosshairs of the U
.S. government, Shkreli apparently

believes he has more important feuds to
rectify.

Well,

talking today for Friday, January 29th,
goes to Martin Shkreli. Do you know who

that is? Yes.

Donkey of the Day is a segment that I do
on my show, The Breakfast Club. I give

people the credit they deserve for being
stupid.

And I mean, I think history has shown
that nobody deserves a lot more credit

being stupid than Martin Shkreli.

After buying the single copy of the Wu
-Tang's album Once Upon a Time in

for reportedly more than $2 million, a
TMZ interview with Wu -Tang's

ghostface killer turns Shkreli from an
avid supporter to a bitter enemy.

I gotta ask you guys, man. You guys know
that guy bought you guys this $2

million, your CD for $2 million at the
auction.

Yeah, that shit. Yeah,

yeah, yeah. You know what I mean?

Martin Shkreli.

Shkreli is really sensitive about any
perceived slights.

That wasn't a perceived slight. That was
an obvious slight. But, yeah, he seemed

to jump at the opportunity to seem to be
threatening.

ghost -faced killer in a video back.

And I think TMZ ran with all of it,
which probably thrilled him.

Dennis, I'm going to call you by your
government name.

You're not a ghost -faced killer.

I'm sorry. It started with Martin
getting online and just talking

know what I'm saying, with some guys. He
rented some goons, and he had these

goons standing behind him in a video,
and he was just talking real greasy.

You know, at the end of the day, I'm
very sorry for you.

You're an old man.

You're an old man that's lost his
relevance, and you're trying to reclaim

spotlight from my spotlight.

That's not going to work, Ghost.

Dennis.

Ghost -based killer isn't one to back
down.

He comes back with a video posted on his
website, dynamitestick .com.

Hey, yo, man.

You hilarious, man.

You must be on Ritalin or something,
man.

You know what I mean? Take a shot, man.
It's like, yo, you a fake -ass super

villain, man.

Ghostface is just entertaining the
people. That's not even really energy

Martin. That's energy for us.

You know what I'm saying? And I
appreciate that.

This is the guy right here that planned
on challenging me.

The man with the 12 -year -old body.

This is who he be.

His name is Shkreli right there. When y
'all see him, you know what I mean?

Oh, he's having a ball.

Pee -wee Shkreli? And the fact that he
looks so much like Pee -wee Herman.

He really does look like Pee -wee Herman
in the face. A lot.

You're watching The Breakfast Club.

After Charlemagne the God makes him
donkey of the day, Shkreli asks to come

the show for a face -to -face.

The Breakfast Club gladly obliges.

He came in here and tried to shake my
hand. I said, nope, I can't shake your

hand. I need to know what you're all
about first. So first question, are you

privileged, entitled prick?

No.

Nah, I didn't shake his hand because I
knew he was a prick.

I mean, I just knew he was a prick from
what I saw, you know, in interviews and,

you know, what I read in the news. And,
you know, I just knew he wasn't my type

of person. All right. And Ghostface is
going to smack.

We'll see, man. Bring it. I wish he
would. All right.

The leader of the douche tank clan.

In the meantime, while awaiting his
tryout on eight felony counts,

Shkreli doesn't shy away.

He goes all in on social media,
challenging friends and foes alike.

New York City, 8 million stories.

And mine's the best.

Two things I have that you don't. Number
one and number two.

If anyone dared slap me, oh Lord, I wish
they would.

And there is seemingly no end to who
he'll argue

with online.

I

see

your foolish face here.

You need to lose weight.

But even the Internet has lived.

When American Greed returns, the content
trolling goes too far. And even

Twitter says, time's up.

I'm having fun here.

Through all his trolling and his
reputation from raising the price of a

-saving drug, Martin Shkreli soon
becomes known as the Pharma Bro and the

most hated man in America.

If he wants to be a household name,
mission accomplished.

And there's also that musical about him.

I probably shouldn't say the name.

It's called Pharma Bro and American
Doucheable.

A great American hero of our time.

A moral person, a Samaritan, a fine
upstanding citizen.

It's Martin Shrelby. Martin Shrelby.

Martin Shrelby. Who's made the American
dream.

He went to one of the shows, and soon
afterwards he tweets at one of the

creators of the play, and he said,

Something to the effect, hurt your place
sucked, too bad you're a liberal.

So again, it's like classic Martin.

Classic Martin is ever apparent in his
constant confrontations with the media,

which he gladly shares with the world.

Dan Mangan himself makes an appearance
on Shkreli's Facebook page.

Hi, this is Dan.

This is Jake. Hi, this is Martin
Shkreli.

Hi, Martin, how are you? Good.

And he said, I'm ordering you not to
call me, contact me or call my lawyer

anymore.

Because I don't want you talking to my
attorney.

He was basically gaming me or he was
trying to game me because he's saying,

know, I don't want to talk to you. I
have no interest in talking to Dan

from CNBC. How dare you call me? I have
no interest at all in ordering you. But

at the same time, he's recording this.
It's all an ad for a lot of us.

We don't respect you or your
organization enough to ever give you our

the story.

The NBC is on our blacklist.

Clearly.

When American Greed requests an
interview, he succinctly declines,

It's a common attitude from Shkreli,

but one interaction with the media goes
too far.

There was a journalist who had written a
piece about Donald Trump gaslighting

America.

She caught Martin Shkreli's attention
and he asked her to the inauguration,

apparently.

And I think she responded, I would
rather eat my own organ.

And then he started this sort of social
media obsession with her, going so

far as to Photoshop his face onto
pictures of her and her husband or

And, you know, she felt harassed and
notified Twitter. And that led to him

banned from Twitter.

But free reign on Twitter isn't the only
freedom Shkreli risks losing.

He faces eight felony counts.

Potential decades in jail.

And the public that hates him.

Can a jury possibly be impartial?

And I'm sitting there and I'm looking at
him and I'm saying, he looks familiar

to me, he looks familiar to me.

And I just can't place him.

And then somewhere along the line it
just clicked who he was.

When American Greed returns.

Potential jurors let their feelings be
known.

Can Martin Shkreli get a fair trial?

They use very strong words. He's evil,
he's naked.

They have very negative feelings about
that.

After nearly a week of trying to seat a
jury from a hostile public,

Twelve impartial citizens and six
alternates are finally selected to serve

Martin Shkreli's jury.

The government makes its case.

The government's case really was that
Martin Shkreli formed the hedge fund

Capital.

And he sort of, they say, hoodwinked
people into investing with him, lost

money, and then founded another hedge
fund, MSMB Healthcare.

did basically the same thing there, then
founded a biotech company that he

called Retrofin.

And the whole idea was that he was
funneling money from Retrofin to his

fund investors because he had lost their
money.

The investors in this case were the most
damning evidence, I think, because they

said, he told me this, and this is what
happened. He told me X, Y, and Z was

going to happen. It was actually A, B,
and C.

That was very damning evidence. It was
impossible to get over that. And what

Brafman's argued is like, well, they're
rich people. They should know better.

And who cares, really? I mean, like,
they got their money back.

It's a crucial point for the defense.

Retrophin becomes a wildly successful
company.

And investors, despite many not wanting
to invest initially, make multiple times

their investments.

So defense attorney Benjamin Brafman
argues, where's the harm?

It's more an argument to the jury
saying, hey, look, come on.

What's going on here? Why would you
bother convicting this guy?

What Braffman wants jurors to believe,
what Braffman suggests the public should

believe, is that there's Martin Shkreli,
kind of like the comic book figure, the

pro -wrestling villain.

And then there's Martin Shkreli, the
brilliant, young, mathematical,

scientific genius, who has nothing but
altruistic impulsiveness.

And don't pay attention to this kind of
freaky, nasty troll over

here. Pay attention to this really nice
guy over here and believe what this guy

says. Don't believe what this guy says.
Or if he says anything, he's just

kidding. He's just kidding.

They're one person.

In the meantime, even though he already
has the U .S. government shining its

spotlight on him, Shkreli doesn't stop
bringing attention to himself.

There were times when it seemed like
Shkreli was tweeting from inside the

courthouse.

It was really bizarre.

I don't cover a lot of court cases. I'm
a pharmaceutical industry reporter, but

I don't know that that kind of thing
happens frequently.

Martin is unusual in a whole bunch of
ways, and he's particularly unusual for

the fact that, you know, the one time
when you would expect somebody like this

to keep their mouth shut, to keep their
head down, and to let their lawyer do

their job, he does the opposite.

He goes into a room, I've never seen
anything like this before, where a

defendant comes into a room and does an
impromptu press conference with

reporters. He came in there and
commented on our coverage of the case,

prosecution's approach. He insulted them
and called them the junior varsity.

Afterwards, we asked his attorney what
he thought about the fact that Shkreli

did that, and Martin leaned over and
said, I can do whatever I want.

How did you feel about Martin coming to
talk to reporters today in the middle of

the trial? I do whatever he wants. I was
stunned that it happened, and I'm

hoping he doesn't do it ever again.

Nevertheless, the jury has to consider
the facts of the case. And in the end,

the case goes to jury deliberation, the
verdict is uncertain.

It was really unclear.

You have no idea what's going on in the
room.

And this was a really complicated case
with a lot of counts, eight counts to

decide on, three interrelated schemes.

So they had a lot to talk about. It was
really impossible to tell.

We debated a lot. We talked a lot.

And, yeah, we took it very seriously. We
took it seriously.

I've been on several juries before.

This was the most stress.

When American Greed returns, Barton
Shkreli's fate rests in 12 people's

But to look at Shkreli's Facebook feed,
the verdict is already in.

The jury starts tomorrow.

I give them about 20 minutes before they
free the boy.

Free the boy.

In August 2017,

Lois Pounds and 11 other jurors sit in a
room to determine Martin Shkreli's

fate.

It's hard. It's hard. But that's what we
are there for as jurors.

And I would hope that if I'm in that
situation, God forbid, one day, that I'd

have somebody that was, you know, open
-minded, you know, and took it

After almost five days of deliberation
and almost 40 hours of debate, the jury

finds Skrelik guilty of three of eight
counts.

When he and his attorneys came out of
the courthouse, they declared victory.

We're, I think, delighted in many ways
with this verdict.

Count Devin was the government's...

attempt to theorize that I robbed Peter
to pay Paul, and the jury has spoken

conclusively that Bertropin was not
defrauded in this case.

My investors made three to five times
their money without any aid of any sort.

According to Lois Pound, the charges he
is convicted of are straightforward and

basically relate to whether or not
Shkreli lied or misled investors to

them to invest.

It was easy to see that if you're
supposed to have an auditor and you

an auditor and you present that, that's
wrong.

If you're supposed to have a fund
administrator and you don't have that,

wrong. If you provide full fund
performance to your investors, that's

And that's fraud.

That's fairly easy to see.

But Pounds believes the other charges
are less clear -cut.

She believes Shkreli had no intent to
take investors' or Retrofin's money.

I think one juror said that his intent
for Retrofin was never to cause,

you know, Retrofin to lose money.

And I think the term used by that
individual was that was his baby.

He wanted to make Retrofin successful.

If you want a company to be successful,
the last thing you're going to do is

cause it to lose money.

This was a witch hunt of epic
proportions.

Maybe they found one or two broomsticks,
but at the end of the day, we've been

acquitted of the most important charges
in the case, and I'm delighted to report

that. Once again, Martin Scarelli seems
to believe he's escaped unscathed.

Immediately after he returned home,
after declaring victory outside the

courthouse, he was drinking a beer on a
live stream and talking about how he

expected he might not get any jail time.

How are you feeling?

You know, pretty good. You know, there
was a chance that the government could

have put me in jail for 10 years and
fined me $20 million, but right now I'm

looking at zero to six months.

You may have gotten off and not guilty
on some charges, but you were convicted

of several fraud charges, which is
serious.

And I really believe that there's
something emotionally off with him.

Martin is a brilliant young man, but
sometimes people's skills don't

translate well. So we will have some
good discussions, but at the end of the

day, you know, Martin, I think, has more
than held his own in this case.

I don't think I'm scared of the
government.

I call them junior varsity.

Free on bail as he awaits sentencing,
Shkreli returns to good old -fashioned

trolling. And he targets an old friend,
Charlemagne the God.

I

don't

care about having peace with
Montesquarelli.

It's like I don't care about having
peace with Satan.

I don't care about Montesquarelli.

A spat with a New York radio host is one
thing.

Shkreli has legions of supporters online
who are willing to fight his fight or

go after those who go after him.

But when Shkreli targets a person who
targeted him on the campaign trail,

Hillary Clinton, he finds himself
punching above his weight class.

On Facebook.

He posts a message which suggests, you
know, the Clinton Foundation was

in murders or covered -up murders, and
he suggests that he's willing to pay $5

,000 to any of his readers who get a
hair follicle out of her head.

The Department of Justice says they're
concerned and bring the issue up to the

court. They want his bail revoked.

When he apologized to the judge, you
know, he said, It never occurred to him

that the Secret Service would have to
get involved, that anybody would take it

seriously.

And he was embarrassed that anybody
really thought he would do anybody harm.

The judge is not amused.

The judge really focused on his making
women feel uncomfortable from this

journalist who, you know, he said he
just admired and wanted to sort of.

put his face next to in these pictures,
whom he made feel very uncomfortable, to

Hillary Clinton.

To the judge, this isn't a humorous
prank.

She believes it's a comment that someone
could take as a call to action.

Well, the judge made the point that
Shkreli doesn't know all of his

social media. It's impossible to predict
how somebody will interpret something

like that.

She told him that he was harassing women
and making them feel unsafe.

Judge Kiyo Matsumoto revokes Shkreli's
bail.

And she sends him to await his time
until sentencing in Brooklyn's Central

Detention Center.

Oh, you done went too far now, you
stupid prick. You know what I'm saying?

I love the fact that that trolling
actually eventually got him locked up.

Because nobody cares when you troll
rappers.

Nobody cares when you troll hip -hop
radio personalities.

But take that trolling to a former first
lady of the United States, a former

senator, and now your dumb ass is in
jail. Good riddance.

Sentencing is scheduled for later this
year.

Shkreli could be facing up to 20 years.

But with no prior convictions and no
tangible loss of money by investors,

likely he'll get much less.

So what's next?

One thing that strikes me is that it's
hard to imagine when Martin Shkreli is

going to stop being, you know, Martin
Shkreli, when he's going to stop doing

outrageous things.

I don't know how long he's been in
prison, but when he comes out, I don't

him to go away.

Anytime soon.

American

Greed,

coming up next.

CNBC, get yours.

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