US prosecutors consider more charges against ex-CEO Shkreli

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Martin Shkreli May Face Additional Charges


NEW YORK, May 3 (Reuters) - Former drug executive Martin Shkreli, who last year became a lightning rod for outrage over soaring prescription drug prices, may face additional U.S. charges of securities fraud, a federal prosecutor said on Tuesday.

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More charges related to Shkreli's involvement with biopharmaceutical company Retrophin Inc could be filed within a month, Assistant U.S. Attorney Winston Paes said at a hearing in federal court in Brooklyn, New York.

Shkreli, 33, sparked outrage among patients, medical societies and U.S. lawmakers after another company he ran, Turing Pharmaceuticals, raised the price of the drug Daraprim by more than 5,000 percent to $750 a pill.

Photos from the case:

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Martin Shkreli's outrageous faces during congressional hearing, Turing Pharmaceutical
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US prosecutors consider more charges against ex-CEO Shkreli
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, reacts during a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
Entrepreneur and pharmaceutical executive Martin Shkreli listens during a hearing of the House Oversight and Government Reform Committee on Capitol Hill February 4, 2016 in Washington, DC. Martin Shkreli, the controversial former pharmaceuticals boss and hedge fund manager indicted on securities fraud charges, has been subpoenaed to appear at a hearing of a House of Representatives committee on oversight and government reform looking at the prescription drug market. / AFP / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
Entrepreneur and pharmaceutical executive Martin Shkreli waits for a car to pick him up after invoking his Fifth Amendment rights during a hearing of the House Oversight and Government Reform Committee on Capitol Hill February 4, 2016 in Washington, DC. Martin Shkreli, the controversial former pharmaceuticals boss and hedge fund manager indicted on securities fraud charges, has been subpoenaed to appear at a hearing of a House of Representatives committee on oversight and government reform looking at the prescription drug market. / AFP / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
Entrepreneur and pharmaceutical executive Martin Shkreli (L) leaves with his lawyer Benjamin Brafman after invoking his 5th Amendment rights during a hearing of the House Oversight and Government Reform Committee on Capitol Hill February 4, 2016 in Washington, DC. Martin Shkreli, the controversial former pharmaceuticals boss and hedge fund manager indicted on securities fraud charges, has been subpoenaed to appear at a hearing of a House of Representatives committee on oversight and government reform looking at the prescription drug market. / AFP / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
UNITED STATES - FEBRUARY 04: Martin Shkreli, center, former CEO of Turing Pharmaceuticals, leaves a House Oversight and Government Reform Committee in Rayburn Building on 'methods and reasoning behind recent drug price increases,' after invoking his Fifth Amendment right against self-incrimination, February 04, 2016. Turing had raised the price of Daraprim, a drug used by AIDS and cancer patients, from $13.50 to $750 a pill. (Photo By Tom Williams/CQ Roll Call)
WASHINGTON, DC - FEBRUARY 04: Martin Shkreli, former CEO of Turing Pharmaceuticals LLC., is sworn in during a House Oversight and Government Reform Committee hearing on Capitol Hill, February 4, 2016 in Washington, DC. Shkreli invoked his 5th Amendment right not to testify to the committee that is examining the prescription drug market. (Photo by Mark Wilson/Getty Images)
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, is sworn in during a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, reacts during a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
(L-R)Howard Schiller, interim CEO of Valeant Pharmaceuticals International, Inc., Nancy Retzlaff, chief commercial officer for Turing Pharmaceuticals LLC, and Martin Shkreli, former CEO of Turing Pharmaceuticals LLC, wait for a hearing of the House Oversight and Government Reform Committee on Capitol Hill February 4, 2016 in Washington, DC. Martin Shkreli, the controversial former pharmaceuticals boss and hedge fund manager indicted on securities fraud charges, has been subpoenaed to appear at a hearing of a House of Representatives committee on oversight and government reform looking at the prescription drug market. / AFP / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
WASHINGTON, DC - FEBRUARY 04: Martin Shkreli, former CEO of Turing Pharmaceuticals LLC., smiles while flanked by Nancy Retzlaff, chief commercial officer for Turing Pharmaceuticals LLC., during a House Oversight and Government Reform Committee hearing on Capitol Hill, February 4, 2016 in Washington, DC. Shkreli invoked his 5th Amendment right not to testify to the committee that is examining the prescription drug market. (Photo by Mark Wilson/Getty Images)
Pharmaceutical chief Martin Shkreli listens on Capitol Hill in Washington, Thursday, Feb. 4, 2016, during the House Committee on Oversight and Reform Committee hearing on his former company's decision to raise the price of a lifesaving medicine. Shkreli refused to testify before U.S. lawmakers who excoriated him over severe hikes for a drug sold by a company that he acquired. (AP Photo/Susan Walsh)
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, smiles during a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, smiles during a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals LLC, left, listens as his attorney Benjamin Brafman speaks the media after a House Committee on Oversight and Government Reform hearing on prescription drug prices in Washington, D.C., U.S., on Thursday, Feb. 4, 2016. Shkreli, who is no longer with Turing and faces federal fraud charges unrelated to the drugmaker, declined to make any comments to the committee. 'On the advice of counsel, I invoke my Fifth Amendment,' Shkreli said. Photographer: Pete Marovich/Bloomberg via Getty Images
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In December, U.S. authorities arrested him on fraud charges unrelated to the pricing of Daraprim, saying he ran his investment funds and companies almost like a Ponzi scheme. He stepped down from Turing and was fired from KaloBios Pharmaceuticals Inc.

Shkreli has pleaded not guilty, and his lawyer Benjamin Brafman told reporters after Tuesday's court hearing that he did not believe additional charges would change the case. After the hearing and on Twitter, Shkreli said he did not commit a crime and he agreed with a Twitter user who said Shkreli would not get a fair trial.

Lawyers at the hearing discussed possible trial dates late this year or in early 2017 for Shkreli and for Evan Greebel, a lawyer charged in the same case. Greebel has pleaded not guilty.

(Reporting by David Ingram; Editing by Nick Zieminski)


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