NEW YORK – A defense lawyer says former pharmaceutical CEO Martin Shkreli would take a hit in a high-stakes legal battle with a drug company he founded if he's convicted at his securities fraud trial.
Attorney Ben Brafman told jurors in closing arguments Friday that a drug company official who testified for the government was biased because if Shkreli is found guilty of a felony, the company could justify his firing in 2014 and gain ammunition in its $65 million lawsuit against him.
Shkreli has claimed he was wrongfully fired and is owed millions.
Prosecutors say the 34-year-old Shkreli lied to investors in two failed hedge funds. The defense says there was no harm because he paid them back with stock.
Shkreli is best known for raising the price of a life-saving drug.
This story has been corrected to show that $65 million refers to damages sought in a lawsuit, not a $65 million stake in a drug company.