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'Pharma Bro' Martin Shkreli convicted of securities fraud

Martin Shkreli, the former CEO of Turing Pharmaceuticals who was dubbed "the most hated man in America" after dramatically increasing the price of a popular HIV drug, was found guilty Friday on three of eight criminal counts, including securities fraud and conspiracy to commit securities fraud, CNBC reports.

Shkreli faces up to 20 years in prison. He stood accused of defrauding investors who had put millions into his hedge funds and illegally paying them back via his pharmaceutical company, Retrophin, after he lost their money.

Shkreli, 34, was first arrested in December 2015. "It's time for Martin Shkreli to be held accountable," prosecutor Jacquelyn Kasulis said in her rebuttal argument, The New York Times reports. Jeva Lange