NEW YORK, Aug. 4 (Xinhua) -- A 34-year-old former U.S. hedge fund manager, Martin Shkreli, was found guilty Friday on three counts in his securities fraud trial.
Shkreli, notoriously known as "Pharma bro", was convicted of three criminal counts, which included conspiracy to commit securities fraud, and two counts of securities fraud, after over a month trial in a federal court in Brooklyn, New York.
The former biotech CEO, who shot to fame in 2015 for raising the price of the anti-parasite drug Daraprim by more than 5,000 percent, faces up to 20 years in prison when he is sentenced.
Prosecutors had accused Shkreli of defrauding investors by repeatedly lying about the performance of funds he controlled, and raiding his company's own assets to provide "returns" to investors.
U.S. Attorney Alixandra Smith in her closing arguments on Thursday said all of the information the investors got from Shkreli was "false."
