"On or about September 10, 2012, Shkreli sent an email to the investors in MSMB Capital and MSMB Healthcare telling them he planned to devote all his time to Retrophin and would be dissolving MSMB Capital and MSMB Healthcare. Shkreli told them that the original MSMB Capital investors “have just about doubled their money net of fees,” and he included a “Monthly Net Performance” chart which seemed to back up that representation. But that chart was false. As described above, investments in MSMB Capital had been wiped out by the Orex Trade."
Ex-drug executive Shkreli has $40 million trading loss: U.S
- Thread starter just21
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You are only getting part of the story. It kracks me up reading this stuff.
If you actually read that link it is a pretty solid case. Martin was dumb enough to put it all in emails
Sounds like you don't have anything other than your opinion
Ok, give us some facts, some information. Waiting.........
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lol read the SEC complaint by Cooley LP. htf do you think that Cooley got the names of all of those people parking shares for this idiot? No f*cks given if he manages to escape Club Fed; but this guy loses everything. A punitive fine exceeding the peak of net liq produced by the KBIO scam.
On second thought... I am glad that you were banned. You're such an overwhelming sycophant that you will attempt to attach yourself to anyone of repute (good or bad), and act as thought you have some inside knowledge.
Don't hold your breath...this is all part of his "I know more than you" vague innuendo.
http://motherboard.vice.com/read/this-is-why-the-feds-arrested-martin-shkreli
Here’s the gist of what the feds are alleging: Shkreli owned a hedge fund called MSMB Capital that he started back in 2009. Investors fed money into that fund (as investors tend to do with hedge funds), but the feds allege Shkreli lost or blew through nearly all of it in the first year.
“Mr. Shkreli spent, misappropriated, or lost through poor trading decisions all but $331 of the $660,000 or so of [initial] investor funds raised,” said Andrew Ceresney, the director of enforcement for the SEC.
Over the next few years, investigators allege Shkreli raised about $3 million through MSMB Capital, but lost pretty much all of it
“He didn’t tell his investor he lost their money,” Capers said. “Instead Shkreli started a new hedge fund called MSMB Healthcare, which he founded in 2011. Here again he lied to the investors in the same way: he concealed from them the prior truth about his performance with MSMB Capital and the fact that he had lost $3 million.”
Here’s the gist of what the feds are alleging: Shkreli owned a hedge fund called MSMB Capital that he started back in 2009. Investors fed money into that fund (as investors tend to do with hedge funds), but the feds allege Shkreli lost or blew through nearly all of it in the first year.
“Mr. Shkreli spent, misappropriated, or lost through poor trading decisions all but $331 of the $660,000 or so of [initial] investor funds raised,” said Andrew Ceresney, the director of enforcement for the SEC.
Over the next few years, investigators allege Shkreli raised about $3 million through MSMB Capital, but lost pretty much all of it
“He didn’t tell his investor he lost their money,” Capers said. “Instead Shkreli started a new hedge fund called MSMB Healthcare, which he founded in 2011. Here again he lied to the investors in the same way: he concealed from them the prior truth about his performance with MSMB Capital and the fact that he had lost $3 million.”
Yeah the guy looks like a faker. He never made good money just by trading, unless he was messing/manipulating with his own company stocks. Well, he should be on C-SPAN tomorrow pleading the 5th and in a few months in prison for 5-7 years, my guess....
He owns nothing to his name, that Wu Tang CD can be copied in 30 seconds, so hardly a smart investment. Maybe he should buy some bitcoins....
He owns nothing to his name, that Wu Tang CD can be copied in 30 seconds, so hardly a smart investment. Maybe he should buy some bitcoins....
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Whatever happened to the link what Bleau/Smurf put up? I think he deleted it because he realized the article actually was shedding light on this fraud guy. Here it is just in case:
http://www.vanityfair.com/news/2015/12/martin-shkreli-pharmaceuticals-ceo-interview
TL;DR:
1. His first HF lost 2.6 million, lost a case against Lehman. (by the way how the fuck these guys can start a HF in the first place?)
2. His second HF finally loses 7 million and he is out of the HF business.
3. He took Retrophin public through what’s known as a “reverse merger,” oh you wonder what that is?:
"Such deals are so notoriously sleazy that the S.E.C. has issued a bulletin warning investors to stay away from them."
So as far as I see it, the guy has no money, not even a house, no success story behind him, but hey, he has a CD and a congressional hearing tomorrow.
http://www.vanityfair.com/news/2015/12/martin-shkreli-pharmaceuticals-ceo-interview
TL;DR:
1. His first HF lost 2.6 million, lost a case against Lehman. (by the way how the fuck these guys can start a HF in the first place?)
2. His second HF finally loses 7 million and he is out of the HF business.
3. He took Retrophin public through what’s known as a “reverse merger,” oh you wonder what that is?:
"Such deals are so notoriously sleazy that the S.E.C. has issued a bulletin warning investors to stay away from them."
So as far as I see it, the guy has no money, not even a house, no success story behind him, but hey, he has a CD and a congressional hearing tomorrow.