Martin Shkreli's lawyer, Benjamin Brafman, has extensive experience in handling high-profile cases. He's represented celebrities like Harvey Weinstein and Mike Tyson.
Brafman took on the Shkreli case in 2015, after Shkreli's previous lawyer left the case. Shkreli was charged with securities fraud and conspiracy.
The case drew widespread attention due to Shkreli's notorious reputation and the high-profile nature of the charges.
Martin Shkreli's Lawyer
Evan Greebel, a Scarsdale lawyer, was convicted in the Martin Shkreli fraud case. He was Retrophin's outside counsel from 2011 to 2014.
Greebel conspired with Shkreli to misappropriate Retrophin's assets to pay off defrauded investors. He also conspired with Shkreli to defraud investors and potential investors in Retrophin by trying to illegally control the price and trading volume of Retrophin's stock.
Greebel took deliberate actions to help Shkreli defraud investors. He exploited his knowledge of the law in his efforts to break the law.
U.S. Attorney Bridget M. Rohde said Greebel helped Shkreli steal millions of dollars and cover up Shkreli's fraud. This verdict sends a powerful message that lawyers will be held accountable for facilitating crimes.
FBI assistant director-in-charge William F. Sweeney said justice was finally served in a case that had spent a lot of time in the spotlight.
Sentence and Conviction
Evan Greebel, the lawyer for Martin Shkreli, was convicted of conspiracy to commit wire fraud and conspiracy to commit securities fraud.
Greebel was found guilty in December 2017 after an 11-week trial.
He was convicted of helping Shkreli steal millions of dollars and cover up Shkreli's fraud while Shkreli was chief executive of Retrophin Inc.
Greebel took deliberate actions to help Shkreli defraud investors, according to FBI assistant director-in-charge William F. Sweeney.
Greebel was Retrophin's outside counsel from 2011 to 2014, and prosecutors say he conspired with Shkreli to misappropriate Retrophin's assets to pay off defrauded investors.
Greebel also conspired with Shkreli to defraud investors and potential investors in Retrophin by trying to illegally control the price and trading volume of Retrophin's stock.
The verdict sent a powerful message that lawyers will be held accountable when they use their expertise to facilitate crimes, according to U.S. Attorney Bridget M. Rohde.
Greebel was sentenced to 18 months in prison and will have to pay $10,447,979 in restitution to Retrophin and forfeit $116,464.03 in ill-gotten gains to the government.
Judge Kiyo Matsumoto said Greebel's conduct was "egregious" and that he played a "crucial role" in Shkreli's scheme to defraud investors.
On a similar theme: What to Do When No Lawyer Will Take Your Case?
Frequently Asked Questions
What happened to Michael Shkreli?
Michael Shkreli was released from prison in May 2022 and has since worked as a software developer and consultant, but has also faced a lawsuit related to a rare Wu-Tang Clan album.
How much did Martin Shkreli have to pay?
Martin Shkreli was ordered to pay a total of $71.96 million in fines and restitution. This includes a $7.4 million fine and $64.6 million in civil penalties.
Sources
- https://life4me.plus/et/news/martin-shkrelis-ex-lawyer-found-guilty-of-financial-fraud/
- https://www.forbes.com/sites/jacobfrenkel/2017/07/05/defending-martin-shkreli-how-his-lawyer-aims-to-win/
- https://nypost.com/2018/08/17/martin-shkrelis-ex-lawyer-sentenced-to-18-months-in-prison/
- https://www.lohud.com/story/news/crime/2017/12/28/evan-greebel-scarsdale-convicted-martin-shkreli-case/986611001/
- https://apnews.com/article/83e4bd85054641ff859f92eaed877251
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