Ex-drug executive Shkreli has $40 million trading loss: U.S

Pekelo said:
So going back to the title of this thread, he had 1.2 million KBIO shares on this account. At its highest it was $40 per stock, thus the valuation of the account for 45 million. But after his pump and dump scheme, he forgot the dump part (I think he hoped to make the company a billion dollar enterprise) and when he was arrested, this account was used as collateral, preventing from selling anything from it. Well, the stock tanked, and here we are, the need for more money for his 5 million bail.

Here is the stock chart:

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No. The valuation was pinned to the KBIO halt. So $23.59/share. I don't know why you chose the high-print as the valuation.

wtf... the shares are restricted. He could not sell a single share at a profit for six months.
 
Pekelo said:
So did Madoff and Hitler. Oh my bad, Hitler wasn't a trader. Well, neither was Madoff nor Shkreli...
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kids nowadays don't know the difference between famous and infamous. He is not famous, it really bothers me that some look up to people cause they made some money, regardless of their ethics, is their self esteem really that low? someone gets a following for being a douchebag
and the lemmings think he is a success. sad.
 
There was a clip from his trial. He always pleads The Fifth. What a crappy law. Lets criminals get away with their crimes. Yah it sucks. About time they scrapped it. He did however admit his name.
 
Here is for the weekend reader a bit old and long, but rather funny description of the fraud case against Shkreli:

http://bloombergview.com/articles/2...i-accused-of-being-surprisingly-good-at-fraud

"Shkreli's other business accomplishments are a mixed bag, but all in all pretty impressive for a guy who started off by losing all of his investors' money at least twice.

There are only two real ways to sustain the lie. One is to Ponzi it up, and keep raising new money from investors to pay out the old ones. In the right environment, and with the right sales pitch, this can work really well for a really long time, but since the supply of suckers is finite, it can only ever end in prison or the grave.

The other way to sustain the lie -- and the only possible permanent solution -- is to gamble on redemption.

Of course, these methods aren't mutually exclusive, and you can Ponzi along for a bit while looking for the big score that will return you to legitimacy."
 
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