Shkreli Lawyer Prepares Flashy Closing, While Government Plays It Straight
“Why did he sleep in his office in a sleeping bag for two years to make Retrophin a dazzling success?”
And he presented posters showing that, in total, MSMB investors testified
that they made more than three times their invested money once Mr. Shkreli paid them back with some combination of cash and Retrophin stock.
She argued that Mr. Shkreli lost all of his investors’ money in one fund, then used
the second hedge fund to funnel money into the pharmaceutical company Retrophin.
All along, he had been telling investors their funds were humming along,
and when it came time to pay investors, to cover up his lies, he arranged payments through Retrophin, which “was not on the hook for any of this,” she said.
He sent statements until September 2012 — when, in fact, MSMB Capital shut down its brokerage firm account
after a bad trade in February 2011, when “there was nothing left in the fund,” Ms. Smith said
He noted that “every single witness said there’s something wrong with Martin Shkreli.”
Mr. Brafman also called him “one of the most brilliant minds of his generation,” bringing up the drugs
that Mr. Shkreli had worked on and warning jurors that “you need to be right before you snuff that out” with a felony conviction.