Martin Shkreli, the infamous ex-pharmaceutical executive known for hiking the price of a life-saving drug, pled not guilty Monday to yet another criminal charge. The charge stems from an alleged Ponzi-like scheme in which he swindled his former pharmaceutical company, Retrophin, out of millions to cover losses of two failing hedge funds he managed.
Specifically, federal prosecutors allege with the new charge that Shkreli and his former counsel, Evan Greebel, conspired to conceal Shkreli’s ownership of some Retrophin shares from the Securities and Exchange Commission. The charge is Shkreli’s eighth and Greebel’s second in connection with the alleged scheme. Both men were first indicted in December and have pleaded not guilty to all of the charges.
In a statement, Shkreli’s current lawyer, Benjamin Brafman, said: “There is nothing in the new indictment that impacts in any way on the flawed theory of the case as applied to Mr. Shkreli.”