If convicted, Shkreli and Greebel face up to 20 years in jail.
Martin Shkreli made quite a name for himself in the news. Earlier this year the CEO for the pharmaceutical company remorselessly raised the price of life-saving pill, Daraprim, by 5000% from $13.50 to $750 per pill. He followed that by buying the new Wu-Tang Clan album, Once Upon a Time in Shaolin for $2 million (which was not seized in the arrest, according to tweets by the FBI.) Shkreli has also dabbled with his own career as a rapper and offered to pay for rapper Bobby Shmurda’s bail on drug charges.
Kaye Scholer Lawyer Arrested
Evan Greebel is a lawyer at Kaye Scholer. Before Kaye Scholer, he was a lawyer at the firm Katten Muchin Rosenman for over a decade. He specializes in helping companies with mergers, acquisitions, corporate finance, and securities law. He counsels clients on unsolicited takeovers, proxy contests and other transactions, including auctions and leveraged buyouts. Whether he is found innocent or guilty, as is famously said, the clock cannot be unrung - this will forever stain his career. In fact, the consequences may point to other fraudulent activities as Retrophin’s finances have been under internal scrutiny before. A few months ago, the company filed suit against Shkreli for misuse of funds: “Retrophin sued Shkreli in August for misuse of company funds, claiming he engineered numerous transactions between investors in MSMB and the biotechnology firm. Similar allegations are laid out in the company’s regulatory filings. The company alleged in a complaint filed in Manhattan federal court that, through a disastrous trade with Merrill Lynch in 2011, Shkreli cost MSMB more than $7 million, leaving it virtually bankrupt.”
