FTC and seven states seek contempt ruling against Shkreli over pharma ban
News Source
•Tue, 13 Oct 2026 16:54:11 GMT
📰 What Happened
US regulators say Martin Shkreli broke a lifetime ban on working in the drug industry. The Federal Trade Commission and seven states filed a motion in a New York court on Tuesday. They want a judge to hold him in contempt, meaning he could be punished.
Mr Shkreli, 43, is nicknamed the 'Pharma Bro'. Officials say he traded shares in at least 60 drug companies. He was released from prison in May 2022.
🔍 The Backstory
Mr Shkreli became famous in 2015 after his company raised the price of a life-saving medicine by more than 5,000%. He was later jailed for fraud. As a condition of his release, he was barred from the drug business.
The FTC says he broke that rule by investing and talking about biotech online. It says he shared tips on YouTube, X and Reddit, once telling viewers how to trade biotech stocks.
🎯 Why It Matters
The case shows that court bans can carry real penalties. It also matters to patients when someone is accused of profiting unfairly from medicine.
US regulators say Martin Shkreli broke a lifetime ban on working in the drug industry. The Federal Trade Commission and seven states filed a motion in a New York court on Tuesday. They want a judge to hold him in contempt, meaning he could be punished.
Mr Shkreli, 43, is nicknamed the 'Pharma Bro'. Officials say he traded shares in at least 60 drug companies. He was released from prison in May 2022.
Mr Shkreli became famous in 2015 after his company raised the price of a life-saving medicine by more than 5,000%. He was later jailed for fraud. As a condition of his release, he was barred from the drug business.
The FTC says he broke that rule by investing and talking about biotech online. It says he shared tips on YouTube, X and Reddit, once telling viewers how to trade biotech stocks.
The case shows that court bans can carry real penalties. It also matters to patients when someone is accused of profiting unfairly from medicine.