A Former Lawyer of Martin Shkreli Has Been Convicted of Defrauding a Pharmaceutical Firm
Back in September, Martin Shkreli, CEO of Turing Pharmaceutical, was criminally charged for committing securities fraud and is awaiting sentencing which is expected to occur in January 2018. Shkreli has been named “the most hated man in America” after increasing the price of an AID’s medication from just a few dollars to a few hundred. While he managed to have some of the charges pinned against him thrown out, he was thrown in jail even after satisfying his $5 million bond because of a controversial Facebook post he made, according to Business Insider.
While Shkreli will likely spend the time up until his sentencing hearing behind bars, he might be joined by someone who is being recognized as an accomplice to his deceitful actions from 2015. A former lawyer of Shkreli’s has been convicted of helping him defraud a pharmaceutical company. This charge happens to be one Shkreli was cleared of when his case was taken before a jury. Evan Greebel is the lawyer that is being called out for his contribution of illegal advisement as he allegedly used his “legal expertise to facilitate the commission of a crime” [Source: Huffington Post].
Greebel’s case was recently taken before a federal jury in Brooklyn who found him guilty of committing wire fraud and securities fraud. They also accused him of “conspiring with Shkreli to exercise secret control over Retrophin shares belonging to several other shareholders.” Prosecutors also said, “Greebel assisted Shkreli in defrauding Retrophin through a series of settlement and sham consulting agreements.” But, when Greebel and his representing criminal defense lawyer had their opportunity to share their side of the story, Greebel denied that he did anything wrong. In fact, he claimed Shkreli lied to him just as he lied to other investors. And because of the outlandish behavior that put Shkreli behind bars, Greebel’s defense attorney tried to distance his client from him as much as possible.
Greebel, who once was a partner at the law firm, Katten Muchin Rosenman at the time he was working for Shkreli’s company, Retrophin, later joined the firm Kaye Scholer. Now, with his recent conviction, he will likely lose his ability to ever practice law again.
While it is the duty of an attorney to help defend a client or provide legal information to them, they aren’t permitted to provide information that might help facilitate a crime. This is something Greebel is being recognized of doing and the acting U.S. Attorney Bridget Rohde isn’t having it. Her message was sent loud and clear that lawyers will be held accountable when they use their legal expertise to help someone commit a crime.
Although the charges might seem a bit conflicting between Greebel and Shkreli, both are going to be looking at spending the next few years behind bars.
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