‘Pharma Bro’ Shkreli Plots Post-Jail NYC Return—Seeks Home In ‘Dope Building With Sick Views’

Top line

“Pharma Bro” Martin Shkreli, a former hedge fund manager who was convicted of stock fraud in 2017 and released from jail last May, has made a big resurgence on social media in recent months, providing investment advice and seeking tips. for his return to New York.

Main aspects

“In two weeks my ankle monitor will turn off and I will move to Brooklyn, Queens or Long Island,” Shkreli said in a TikTok video released Thursday.

The former pharmaceutical executive and hedge fund manager said he was “not allowed” to live in Manhattan, which is his “first choice”, for probation reasons.

Shkreli earned the infamous nickname “Pharma Bro” in 2015 when his pharmaceutical company Turing acquired the anti-parasite drug Daraprim and raised the price from $ 13.50 per tablet to $ 750.

Shkreli was released in early May 2022 after four years in prison for stock fraud, but wasted no time returning to the world of Wall Street by interacting with online retail investors.

It has resurfaced on social media in a big way with accounts on Instagram, Twitter, YouTube, Facebook, Substack, Twitch, Discord, and OnlyFans, content ranging from investment advice and live trading streams to personal item auctions.

In particular, Shkreli discusses his thoughts on meme stocks like AMC and cryptocurrencies like Bitcoin with retail traders like Reddit and has even started his own trading portfolio.

Crucial quote:

“If you live in a lighted building and want Pharma Bro to be there, just let me know and I’ll go rent an apartment in your building,” Shkreli said on social media about moving to New York soon. “There must be wild parties … there must be a drug building with sick views.”

Key background:

Following his conviction for securities fraud in 2017, Shkreli was permanently banned from being an executive or director of a public company and has a lifetime ban from the pharmaceutical industry. A federal judge ruled earlier this year that he had to pay $ 64.6 million in fines to states that filed antitrust lawsuits against him over the Daraprim dispute.

Tangent:

Shkreli launched a crypto token in July, Martin Shkreli Inu, linked to Druglike, a Web3 project launched the same month. The Pharma Bro describes the online project as a “computational chemistry software” platform that provides resources for “early stage drug discovery projects”. Its crypto token, however, is worth pennies after plummeting 90% at one point last month, which Shkreli attributed to a hack.

Further reading:

“Pharma Bro” Martin Shkreli released from prison early (Forbes)

“Pharma Bro” Martin Shkreli struck with a $ 64.6 million fine and lifetime ban from the pharmaceutical industry (Forbes)

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