Frank Reynolds, the founder and former chief executive officer of PixarBio, was sentenced to seven years in prison for defrauding investors.
The Federal Trade Commission filed a complaint in federal court against Vyera Pharmaceuticals, the company formerly known as Turing Pharmaceuticals that Martin Shkreli founded, alleging an “elaborate anticompetitive scheme to preserve a monopoly” on Daraprim.
Two former executives of biotech company MiMedx Group Inc. were criminally charged with fraudulently inflating the company’s revenue.
Martin Shkreli will remain in prison until he has completed his sentence as the U.S. Supreme Court refused to overturn his seven-year conviction for securities fraud.
One year after his arrest, PixarBio CEO Francis Reynolds was convicted of defrauding investors of $12.7 million.
Martin Shkreli will continue to reside in federal prison after the notorious “Pharma Bro” failed to win an appeal to his 2017 criminal conviction for securities fraud and conspiracy to commit fraud.