A 44-year-old lawyer from Westchester is facing up to 20 years in prison after being convicted of helping “Pharma Bro” Martin Shkreli steal millions from hedge funds covering it up.
Scarsdale resident Evan Greebel was convicted this week of conspiring to commit securities fraud and wire fraud by a federal jury and will now face up to two decades in prison when he is sentenced next year.
According to the Department of Justice, Shkreli defrauded hedge fund investors and misappropriated an estimated $11 million in assets from his pharmaceutical company Retrophin to pay them back.
Greebel was first charged with wire fraud conspiracy in 2015 Greebel, 42, was charged with wire fraud conspiracy for his alleged part in using Retrophin funds to pay back the hedge fund investors of MSMB Capital and MSMB Healthcare.
The scheme lasted for five years, from September 2009 to September 2014, while the Retrophin misappropriation lasted just over three years, from March 2011 to September 2014, authorities allege.
No sentencing date has been scheduled for Greebel, who remains out on $1 million bond. He will face disbarment following his 11-week trial.
Shkreli - who is infamously known for raising the prices of essential pharmaceuticals - remains remanded to the Metroplitan Detention Center in Brooklyn following his August conviction. He is due to be sentenced in February.
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