Martin Shkreli faces FTC contempt request in drug case

Martin Shkreli, former CEO of Turing Prescribed drugs AG, heart, pauses as he speaks with members of the media along with his lawyer Benjamin Brafman (proper) outdoors federal court docket within the borough of Brooklyn, United States, Friday, August 4. 2017

Peter Foley | Bloomberg | Getty Photographs

The Federal Commerce Fee on Friday requested that the infamous “pharmaceutical brother” Martin Shkreli is being held contemplate court docket for founding a brand new pharmaceutical firm in violation of a court docket order prohibiting the convicted fraudster from working within the pharmaceutical trade.

Shkreli who was Launched from jail Final 12 months, in February, he was “banned for all times, immediately or not directly
involvement in any means within the pharmaceutical trade” because of the FTC’s antitrust lawsuit in opposition to him and a earlier pharmaceutical firm he based.

That order adopted Manhattan Federal Court docket Decide Denise Cote’s resolution that Shkreli was overseeing an unlawful program to keep up a monopoly on the life-saving drug Daraprim, which continued whilst he was serving his conviction in an unrelated securities fraud case sat in jail.

In its Friday court docket submitting, the FTC famous that Shkreli introduced in July the formation of a brand new firm, Druglike, “which seems to be within the pharmaceutical trade.”

The company stated the motion, in addition to Shkreli’s failure to pay his almost $25 million share of a $64.6 million judgment he owes within the lawsuit, signifies he violated the orders of the court docket violated on this case.

The FTC and a gaggle of states which have sued Shkreli stated within the submitting that he didn’t adjust to their requests to show over paperwork and undergo an interview as a part of their investigation into whether or not his involvement in Druglink violated the court docket order of February 2022 banning him from the trade.

“Martin Shkreli’s failure to adjust to the court docket’s order demonstrates a transparent disregard for the legislation,” Holly Vedova, director of the FTC’s competitors bureau, stated in a press release.

“The FTC won’t hesitate to make use of the total extent of its companies to facilitate a full investigation of attainable wrongdoing,” Vedova stated.

Benjamin Brafman, an lawyer for Shkreli, didn’t instantly reply to a request for remark.

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