Shkreli Claimed to Have $100 Million While Overdrawn on Fund
- Retrophin charged $10,000 for Jay-Z tickets, prosecutors say
- Jurors shown records of money shuffles from funds to company
Martin Shkreli Faces Day of Reckoning in Court
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Martin Shkreli boasted to potential clients in his hedge funds that he was managing as much as $100 million. In reality, prosecutors say, the net asset value of his fund MSMB Capital at one point fell to minus 33 cents, and never held more than $1.2 million.
Prosecutors on Tuesday showed jurors a series of transactions between Shkreli’s hedge funds, brokerage accounts, his startup drug company and his personal accounts to back their allegation that the former pharmaceutical executive was duping investors with bogus claims about his holdings.