Mr. Shkreli will have to serve the remainder of his seven-year sentence for securities fraud and forfeit more than $6.4 million.
Benjamin Brafman, Mr. Shkreli’s lawyer, told CNBC, “We are disappointed by the court’s decision and continue to maintain that Martin was never treated fairly by any of the courts that have reviewed his case.”
Mr. Shkreli gained notoriety in 2015 when he was the CEO of a drug company then known as Turing Pharmaceuticals after he raised the price of a lifesaving drug by more than 5,000 percent. The move, paired with his lack of remorse, earned Mr. Shkreli the nickname “pharma bro.”
He was sentenced in March 2018 for repeatedly lying to investors about the financial state of two hedge funds he ran and then using the invested money to help start Retrophin, his first pharmaceutical company.
Mr. Shkreli first appealed his conviction in July 2019 to the U.S. Court of Appeals for the 2nd Circuit, arguing his trial judge’s instructions to the jury were incorrect and confusing, according to CNBC. The court denied the appeal, leaving the Supreme Court as his last chance to get his conviction overturned.
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