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Martin Shkreli cries in court, is sentenced to 7 years for securities fraud
Legal Court Feed |
2018/03/10 23:08
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The smirk wiped from his face, a crying Martin Shkreli was sentenced to seven years in prison for securities fraud Friday in a hard fall for the pharmaceutical-industry bad boy vilified for jacking up the price of a lifesaving drug.
Shkreli, the boyish-looking, 34-year-old entrepreneur dubbed the "Pharma Bro" for his loutish behavior, was handed his punishment after a hearing in which he and his attorney struggled with limited success to make him a sympathetic figure
The defendant hung his head and choked up as he admitted to many mistakes and apologized to the investors he was convicted of defrauding. At one point, a clerk handed him a box of tissues.
"I want the people who came here today to support me to understand one thing: The only person to blame for me being here today is me," he said. "There is no conspiracy to take down Martin Shkreli. I took down Martin Shkreli."
In the end, U.S. District Judge Kiyo Matsumoto gave him a sentence that fell well short of the 15 years prosecutors wanted but was a lot longer than the 18 months his lawyer asked for. He was also fined $75,000.
He was found guilty in August of lying to investors in two failed hedged funds and cheating them out of millions. The case was unrelated to the 2015 furor in which he was accused of price-gouging, but his arrest was seen as rough justice by the many enemies he made with his smug and abrasive behavior online and off.
The judge insisted that the punishment was not about Shkreli's online antics or his raising the cost of the drug. "This case is not about Mr. Shkreli's self-cultivated public persona ... nor his controversial statements about politics or culture," Matsumoto said.
But she did say his conduct after the verdict made her doubt the sincerity of his remorse. She cited his bragging after the verdict that he would be sentenced to time served. And she quoted one piece of correspondence in which he wrote: "F--- the feds."
The judge ruled earlier that Shkreli would have to forfeit more than $7.3 million in a brokerage account and personal assets, including a one-of-a-kind Wu-Tang Clan album that he boasted of buying for $2 million.
Defense attorney Benjamin Brafman described Shkreli as a misunderstood eccentric who used unconventional means to make his defrauded investors even wealthier. He told the court that he sometimes wants to hug Shkreli and sometimes wants to punch him , but that his outspokenness shouldn't be held against him. |
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Former Trump campaign aide Nunberg at court for grand jury
Legal Court Feed |
2018/03/10 23:07
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A former Trump campaign aide appeared for hours before a federal grand jury Friday, after he defiantly insisted in a series of news interviews just days earlier that he intended to defy a subpoena in special counsel Robert Mueller's Russia investigation.
Sam Nunberg spent more than six hours inside the federal courthouse in Washington. He declined to speak with journalists on the way in or out of the building, and it was not immediately clear what testimony he offered to the grand jury or what documents he provided.
His appearance marked a turnabout from extraordinary public statements Monday when Nunberg, in multiple interviews, balked at complying with a subpoena that sought his appearance before the grand jury as well as correspondence with other campaign officials. In doing so, he became the first witness in the Mueller probe to openly threaten to defy a subpoena.
Nunberg said he worked for hours to produce the thousands of emails and other communications requested by Mueller, who is investigating whether Donald Trump's campaign improperly coordinated with Russia during the 2016 presidential election.
Trump has denied any wrongdoing. His lawyers are currently negotiating the terms and scope of a possible interview with Mueller's office.
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Court: Nike logo of Michael Jordan didn't violate copyright
Legal Court Feed |
2018/03/03 23:09
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A U.S. appeals court says an iconic Nike logo of a leaping Michael Jordan didn't violate the copyright of an earlier photograph of the basketball star.
The 9th U.S. Circuit Court of Appeals said Tuesday that the logo was based on a photograph of Jordan by Nike that was inspired by a 1984 photo by Jacobus Rentmeester.
They both show Jordan leaping with his legs extended outward toward a basketball hoop with a ball above his head. But the court says the photos are unmistakably different in key elements.
Nike used its photo for the "Jumpman" logo — a silhouetted image of Jordan in the pose that the company has used to market billions of dollars of merchandise.
An email to a law firm representing Rentmeester wasn't immediately returned. |
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Supreme Court declines to take up 'Dreamers' case for now
Legal Court Feed |
2018/02/25 23:10
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The Supreme Court on Monday rejected the Trump administration's highly unusual bid to bypass a federals appeals court and get the justices to intervene in the fate of a program that protects hundreds of thousands of young immigrants from deportation.
The decision affecting "Dreamers" means the case will almost certainly have to work its way through the lower courts before any Supreme Court ruling is possible. And because that could take weeks or months, Monday's decision also is likely to further reduce pressure on Congress to act quickly on the matter.
The ruling on the Obama-era Deferred Action for Childhood Arrivals program, or DACA, wasn't unexpected.
Justice Department spokesman Devin O'Malley acknowledged that the court "very rarely" hears a case before a lower appeals court has considered it, though he said the administration's view was "it was warranted" in this case.
O'Malley said the administration would continue to defend the Homeland Security Department's "lawful authority to wind down DACA in an orderly manner."
DACA has provided protection from deportation and work permits for about 700,000 young people who came to the U.S. as children and stayed illegally.
Last fall, Trump argued that Obama had exceeded his executive powers when he created the program. Trump gave lawmakers until March 5 to send him legislation to renew the program.
But in recent weeks, federal judges in San Francisco and New York have made Trump's deadline temporarily moot. They've issued injunctions ordering the Trump administration to keep DACA in place while courts consider legal challenges to Trump's termination of the program. |
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Catalan politicians in Spanish court in secession probe
Legal Court Feed |
2018/02/20 22:08
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Two prominent Catalan politicians are testifying before a Supreme Court judge for their roles in holding a banned independence referendum and making an illegal declaration of independence based on its results.
Judicial police have identified left-republican ERC party's secretary-general, Marta Rovira, and conservative PDeCAT's president, Marta Pascal, as key players in the secession bid in October.
The Spanish government responded by disbanding the regional government and calling a new Catalan election. Separatist parties have since been entangled in endless negotiations on how to form a new government.
Judge Pablo Llarena could decide after Monday's hearing whether to send the two politicians to jail while the investigation continues.
Other separatist leaders have been jailed and five former Catalan Cabinet members, including ex-president Carles Puigdemont, have fled to Belgium.
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