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Martin Shkreli cries in court, is sentenced to 7 years for securities fraud
Court Watch |
2018/03/11 11:22
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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
Court News |
2018/03/10 19:22
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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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TransCanada doesn't have to pay landowner attorneys
Headline Legal News |
2018/03/09 19:22
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The developer of the Keystone XL pipeline doesn't have to reimburse attorneys who defended Nebraska landowners against the company's efforts to gain access to their land, the state Supreme Court ruled Friday.
The high court's ruling resolves a dispute that was triggered when TransCanada Inc. filed eminent domain lawsuits against 71 Nebraska landowners in 2015, only to drop them later amid uncertainty over whether the process it used was constitutional.
"We conclude that none of the landowners established that they were entitled to attorney fees," Chief Justice Michael Heavican wrote in the opinion.
Omaha attorney Dave Domina argued that TransCanada owes his clients about $350,000 to cover their attorney fees. Domina said the landowners clearly asked for representation in the eminent domain cases, and TransCanada should pay their attorney fees because the company effectively lost those cases.
A TransCanada attorney, James Powers, argued that the landowners failed to prove that they actually paid or were legally indebted to Domina or his law partner, Brian Jorde.
"We're pleased the Nebraska Supreme Court agreed with our legal position," Powers said Friday. Domina said he respected the decision but was disappointed for his clients.
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Cambodian court denies opposition leader release on bail
Topics in Legal News |
2018/03/08 19:22
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Cambodia's Supreme Court has denied bail for an opposition leader charged with treason who is seeking to be released for medical treatment abroad.
The court ruled Friday that Kem Sokha must remain in pretrial detention for his own safety and because the investigation into his case is ongoing. His Cambodia National Rescue Party was dissolved last November by a court ruling on a complaint by Prime Minister Hun Sen's government.
Kem Sokha's case is widely regarded as a political setup by the government to cripple its opponents ahead of a general election this July. The party's dissolution was linked to the treason charge against Kem Sokha, for which he could be sentenced to up to 30 years in prison.
Kem Sokha's lawyers say he suffers from high blood pressure and diabetes, and has fallen sick in prison since being detained last September.
The court said if Kem Sokha is sick, the prison will arrange for a doctor to examine him inside the prison facility.
"If Kem Sokha is not allowed to have medical treatment at a hospital and in case he dies inside the prison, who will take responsibility? Are all of you responsible?" one of Kem Sokha's lawyers, Chea Cheng, asked the court.
The Phnom Penh Municipal Court this month granted a six-month extension for Kem Sokha's pre-trial detention period after the expiration of the initial six months. He has now been denied bail three times.
Kem Sokha was arrested last September on the basis of videos from several years ago showing him at a seminar where he spoke about receiving advice from U.S. pro-democracy groups. The opposition party has denied the treason allegation, saying the charge is politically motivated.
In the past several years the opposition party has faced an onslaught of legal challenges from Hun Sen's government with the support of the courts, which are generally seen as favoring his ruling Cambodian People's Party. Court rulings forced Sam Rainsy, Kem Sokha's predecessor as opposition leader, to remain in exile to avoid prison and pressured him into resigning from his party. Other top opposition party leaders fled Cambodia after Kem Sokha's jailing and the party's dissolution. |
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TransCanada doesn't have to pay landowner attorneys
Court News |
2018/03/08 14:10
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The developer of the Keystone XL pipeline doesn't have to reimburse attorneys who defended Nebraska landowners against the company's efforts to gain access to their land, the state Supreme Court ruled Friday.
The high court's ruling resolves a dispute that was triggered when TransCanada Inc. filed eminent domain lawsuits against 71 Nebraska landowners in 2015, only to drop them later amid uncertainty over whether the process it used was constitutional.
"We conclude that none of the landowners established that they were entitled to attorney fees," Chief Justice Michael Heavican wrote in the opinion.
Omaha attorney Dave Domina argued that TransCanada owes his clients about $350,000 to cover their attorney fees. Domina said the landowners clearly asked for representation in the eminent domain cases, and TransCanada should pay their attorney fees because the company effectively lost those cases.
A TransCanada attorney, James Powers, argued that the landowners failed to prove that they actually paid or were legally indebted to Domina or his law partner, Brian Jorde.
"We're pleased the Nebraska Supreme Court agreed with our legal position," Powers said Friday. Domina said he respected the decision but was disappointed for his clients. |
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