Martin Shkreli seeks to overturn part of his conviction

[Eugene]

Source: Reuters

#BUSINESS NEWS SEPTEMBER 8, 2017 / 9:42 AM / UPDATED 8 HOURS AGO

Martin Shkreli seeks to overturn part of his conviction

Brendan Pierson
3 MIN READ

NEW YORK (Reuters) - Former drug company executive Martin Shkreli on Friday asked a judge to throw out part of his criminal conviction, a day after prosecutors sought to have him jailed until his sentencing.

In a motion filed in Brooklyn federal court, Shkreli’s lawyers said their client was convicted of conspiring to manipulate the stock price of his old company, Retrophin Inc, after a prosecutor improperly defined a key legal term during closing arguments.

The motion does not seek to overturn Shkreli’s conviction on two more serious counts of defrauding investors in his hedge funds. Those counts carry a maximum prison sentence of 20 years, though Shkreli is likely to serve far less time, in part because his investors did not lose money.

Instead, it challenges his conviction of conspiring to manipulate Retrophin’s stock price by telling employees what to do with their shares. Shkreli’s lawyers said a prosecutor falsely told jurors in closing arguments that Retrophin employees were automatically “affiliates” of Retrophin under federal securities law, which would restrict how they could trade their shares.

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Read more: http://www.reuters.com/article/us-usa-crime-shkreli/martin-shkreli-seeks-to-overturn-part-of-his-conviction-idUSKCN1BJ1NT

[BigmanPigman]

1. I hope he likes his future cell mates. That smug smirk will disappear

soon enough. Maybe 45 can have an adjacent cell.