Martin Shkreli judge weighs big questions on investor loss

Shkreli, who seemed relaxed along with looking like his physique filled out a bit since his jailing, said nothing out loud during the hearing along with kept what was – for him, at least – a relative poker face.

However, when a prosecutor suggested in which one of the defense’s arguments was “preposterous,” Shkreli arched his eyebrows along with turned to make a smilingly devilish face at another of his lawyers, Marc Agnifilo.

Also Friday, Matsumoto reserved ruling on the question of the amount of money Shkreli should forfeit to the federal government when he is usually sentenced.

Prosecutors want Shkreli to fork over $7.36 million. They also want him to set aside assets in which include a one-of-a-kind Wu Tang Clan album along with pricey artwork to secure in which penalty during his planned appeals of his conviction.

Matsumoto has refused to Discharge Shkreli’s bond despite his incarceration because of the possibility in which she will apply the $5 million toward a forfeiture she orders.

Brafman, as he has within the past, argued during the hearing in which Shkreli’s case is usually rare, if not unique, since all of the investors in his hedge funds, which ended up going bust, actually ended up with much more than their initial money back, after he launched Retrophin along with paid investors back with cash along with company stock.

“All of these people made substantial money back at the end of the ordeal,” Brafman argued.

Brafman noted in which Shkreli did not use the money coming from hedge fund investors to “support a lavish lifestyle,” however instead created a legitimate drug company, which was financed in part by money coming from one of the hedge funds.

however assistant U.S. Attorney Alixandra Smith argued in which Shkreli fraudulently concealed the awful performance of his funds to make the idea seem in which he was a successful hedge fund manager.

Smith also said Shkreli “frittered away” investor money in which ended up in Retrophin by buying Jay-Z concert tickets, along with paying for cab rides along with meals for himself.

Additional reporting by Meg Tirrell

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