Follow the Story
‘Pharma Bro’ Martin Shkreli welcomes newborn son to the world with this bizarre name
Supreme Court rejects ‘Pharma Bro’ Martin Shkreli’s appeal of $65M in penalties
Writer who ditched husband, job for ‘Pharma Bro’ Martin Shkreli defends Olivia Nuzzi over alleged RFK Jr. affair: ‘So f-ing tired’
‘Pharma Bro’ Martin Shkreli ordered to give up one-of-a-kind Wu-Tang Clan album he paid $2M for
‘Pharma Bro’ Martin Shkreli claims he and Barron Trump created DJT crypto token
‘Pharma Bro’ Martin Shkreli allegedly copied one-of-a-kind Wu-Tang Clan album that sold for $4.75M
Jurors in Martin Shkreli’s Ponzi scheme trial saw account records Tuesday showing the reviled, self-proclaimed “genius” looting investments the moment he got them – with one of his companies dropping $10,000 of investors’ money on a Jay-Z concert.
Prosecutors allege the so-called “Pharma Bro” – who was likened to the autistic savant character from “Rain Main” by a witness Monday – illegally funneled funds in loaned assets into other accounts without lenders’ knowledge.
Bank records revealed Tuesday show other questionable purchases made from the account of pharma company Retrophin, of which Shkreli was signatory, including a $1.3 million transfer into his personal bank account, and a $10,000 purchase for a “Jay Z concert” on Feb. 6, 2012. It’s unclear if that purchase went to the rapper’s Feb. 7 benefit concert at Carnegie Hall.
The 34-year-old – who arrived in court with an unidentified substance smeared near his mouth – is accused of rolling funds through his hedge fund, MSMB Capitol, into his new pharmaceuticals company, Retrophin, without telling investors. He then allegedly paid off investors with Retrophin funds without the approval of the company’s board of directors.
“To recap, $850,000 comes into MSMB Healthcare on Feb 3, 2012, and on the same day 900,000 goes to Retrophin, is that right?” Assistant US Attorney Alixandra Smith asked accountant Wendy Spaulding, who reviewed various bank records for prosecutors.
“Yes,” Spaulding responded.
Other records show an investor deposited $850,000 the same day of the transfer, with another lender giving $100,000 days earlier.
The Retrophin account also shows payments made to investors in the same amount as previously mentioned settlement agreements the backers thought they were making with MSMB Capitol.
“Interpreting these bank records is kind of like watching a foreign language film without subtitles,” defense attorney Jacob Kaplan quipped as he questioned the CPA. “From these records you can’t tell if the transfer is an investment, a loan, or a gift, correct?”
“Correct,” she said.



