After nearly five full days of deliberations, the jury has found Martin Shkreli guilty of three counts of securities and wire fraud. Specifically, he's been found guilty on two counts of securities fraud and one count of conspiracy to commit securities fraud.
The notorious ex-pharmaceutical CEO was charged with eight counts of securities and wire fraud, stemming from what federal prosecutors describes as a Ponzi-like scheme. Prosecutors argued in the five-weeks of testimony and examinations that Shkreli defrauded investors of two hedge funds he managed and siphoned millions from a pharmaceutical company he founded, Retrophin, in order to cover losses in those funds. Shkreli, most infamous for dramatically raising the price of an anti-parasitic drug by more than 5,000 percent, was arrested and charged in December of 2015. He faces up to 20 years in prison.
Shkreli's legal team, headed by Benjamin Brafman, argued during the trial that although Shkreli didn't "look great" on paper, he was a "brilliant mind" who lacked intent to defraud investors.