The Federal Trade Commission . Said Friday that notorious “pharma bro” Martin Shkreli will be FTC held in contempt of court . For forming a new drug company in violation of a judge’s ban on . The convicted fraudster from working in the pharmaceuticals industry.
Shkreli, who was released from prison last year. was banned in February “for life from participating in any way or in . The pharmaceutical industry” as a result of the . FTC’s antitrust lawsuit against him and a former drug company he founded.
The order stemmed from a ruling by Manhattan federal court Judge Dennis Cote that . Shkreli oversaw an illegal scheme to maintain a monopoly on . The life-saving drug Daraprim. Which continued after his prison term for an unrelated securities fraud case.
In its court filing Friday. The FTC noted that Shkreli announced in July the formation of a new company, Druglike. Which appears to be involved in the drug industry.”
. Shkreli’s failure to pay his $25 million share of a $64.6 million . Judgment he is owed, suggests he is violating a court order in the case.
The FTC and a group of states that sued Shkreli said in filings that he failed to follow. Their requests to provide. Documents and submit to an interview as part of an investigation into . Whether his involvement with . DrugLink violated a February 2022 court order barring him. has been from industry
“Martin . Shkreli’s failure to follow. The court order demonstrates a clear disregard for the law. Holly Vedova, director of the . FTC’s Competition Bureau, said in a statement.
“The FTC will not hesitate to establish the full scope of. Its authority to enable a comprehensive investigation into any potential misconduct,” Vedova said.
