A federal appeals court upheld the conviction and seven-year
prison term of Martin Shkreli, the pharmaceutical executive known as "Pharma Bro," for defrauding investors in his hedge funds and conspiring to manipulate the stock of Retrophin Inc, a biotechnology company he ran.
In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan on Thursday rejected Shkreli's argument that his trial judge gave incorrect and confusing instruction about securities fraud to the Brooklyn jury that convicted him.
Shkreli, 36, had been appealing his August 2017 conviction on two securities fraud counts and one conspiracy count.