Hearing set on if US will seize assets of ‘Pharma Bro’

Martin Shkreli is interviewed by Maria Bartiromo during her "Mornings with Maria Bartiromo" program on the Fox Business Network, in New York. (AP)
Updated 23 February 2018
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Hearing set on if US will seize assets of ‘Pharma Bro’

NEW YORK: “Pharma Bro” Martin Shkreli is due back in court Friday for a hearing about whether he should forfeit millions of dollars in assets including a one-of-a-kind Wu-Tang Clan album as part of his conviction in a securities fraud scheme.
Prosecutors are expected to argue in federal court in Brooklyn that Shkreli is on the hook for more than $7 million. Along with the Wu-Tang Clan “Once Upon a Time in Shaolin” album that Shkreli has boasted he bought for $2 million, prosecutors have said he should give up $5 million in cash in a brokerage account, his interest in a pharmaceutical company and other valuables including a Picasso painting.
The defense has said the brash former pharmaceutical CEO owes nothing because in the end, his investors did not lose the money.
Shkreli, 34, is perhaps best known for boosting the price of a life-saving drug and for trolling his critics on social media where he became known as “Pharma Bro.” A jury convicted him in August of cheating investors in two failed hedge funds.
Shkreli was out on bail during his trial but was jailed afterward when a judge decided he had made veiled online threats against Democrat Hillary Clinton.
His sentencing is scheduled for March 9.


May to argue 2nd referendum would violate public trust

Updated 17 December 2018
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May to argue 2nd referendum would violate public trust

LONDON: Prime Minister Theresa May is set to condemn calls for a second referendum on Britain’s departure from the European Union, saying it would do irreparable damage to trust in democracy.
In remarks released ahead of her speech in the House of Commons on Monday, May says that staging another referendum “would say to millions who trusted in democracy that our democracy does not deliver.”
She’s also expected to argue that such a ballot would exacerbate divisions rather than heal them.
May’s supporters distanced themselves from media reports that senior figures in her government held talks with opposition Labour lawmakers aimed at holding another vote.
With time growing short toward Britain’s scheduled March 29 departure, it remains unclear whether the country will leave with a deal or crash out with no deal.