Martin Shkreli’s exile from the drug world may not have stuck, according to regulators who say he returned almost as soon as the court ordered him to leave the world. In a new filing, the Federal Trade Commission and attorneys general from New York and six other states accuse Shkreli, aka “Pharma Bro,” of flagrantly violating a 2022 lifetime ban that barred him from the pharmaceutical industry after his Daraprim price gouging case, according to the New York Times. They claim the 43-year-old traded shares of numerous pharmaceutical companies, hosted online trading competitions and used livestreams to tout bets against biotech companies, all while claiming, “I show you how to trade and invest in biotech.”
Officials want a judge to force Shkreli to give up his pharmaceutical holdings and divest his profits, noting that the conduct they have documented may be just “the tip of the iceberg.” They also want him tried for civil contempt for his “egregious violations,” according to the Tutor. The filing also calls for “clear and escalating consequences, including additional fines and imprisonment, for any future violations.” “A court-ordered lifetime ban is not a suggestion,” New York Attorney General Letitia James said in a statement. “Martin Shkreli livestreamed his pharmaceutical company’s transactions for the world to see, in violation of the law.” Shkreli had not yet commented as of Wednesday morning.
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