New Conspiracy Charge brought Against Former Pharmaceutical Executive Martin Shkreli

New Conspiracy Charge brought Against Former Pharmaceutical Executive Martin Shkreli

On Friday, a new conspiracy charge was slapped against Martin Shkreli, the former pharmaceutical executive of Retrophin Inc and his former lawyer, Evan Greebel in Brooklyn.

In December, both of them were accused and arrested for stealing money from Retrophin Inc. to cover up for the losses which investors suffered at Mr. Shkreli's hedge funds.

Mr. Shkreli, was ousted as Retrophin's CEO by the company's board in 2014. He has also been heavily criticized for spiking essential drug prices at his pharmaceutical companies. However, his arrest has nothing to do with the matter.

The accusations say, the two accused allocated San Diego based Retrophin Inc's stocks to seven employees in order to conceal that Shkreli owned them.

Shkreli has earlier pleaded not guilty to the charges stating he lost investors' money through bad trades and stole from the pharmaceutical company to cover it up.

Shkreli has faced heavy criticism and is hated because his drug price spiking moves. Turing Pharmaceuticals, a Shkreli owned company raised the price of Daraprim, a drug mostly used to treat malaria by 5,000 percent.

Shkreli's attorney said that the new allegations will not change "flawed theory" of the case and Greebel's lawyer did not make any comments.

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