Brooklyn Boro

SKETCHES OF COURT: First witness in Shkreli trial reported too-good-to-be-true returns

June 30, 2017 Associated Press
Court sketch by Shirley Shepard
Share this:

An investor in “Pharma Bro” Martin Shkreli’s hedge fund says he wowed her by reporting eye-popping returns that prosecutors say were a lie.

Sarah Hassan testified Thursday as the first witness at Shkreli’s security fraud trial in Brooklyn federal court.

She told jurors she invested $300,000 with Shkreli in 2011 after being told he was “a rising star in the hedge fund world” who managed $40 million. She said she was thrilled when he reported she made nearly $60,000 that year alone.

But prosecutors say Shkreli was concealing the fact that his fund was tanking because of bad stock bets.

News for those who live, work and play in Brooklyn and beyond

The 34-year-old Shkreli is notorious for raising the price of a life-saving drug 5,000 percent and for his nonstop social media posturing.

His lawyers say he’s a nerdy eccentric who’s innocent.


Leave a Comment

Leave a Comment