The Federal Trade Commission on Friday said convicted fraudster Martin Shkreli should be held in contempt of court for launching a new drug company after he was banned from the pharmaceutical industry for life.
The FTC asked the United District Court for the Southern District of New York to find Shkreli in civil contempt for failing to satisfy the monetary judgment and for forming a new company, called Druglike, described as"a platform for democratizing the access, costs and rewards of early-stage drug discovery."
The agency also said Shkreli has not complied with requests to turn over information and make himself available for interviews related to its probe into Druglike. "We hope to resolve this misunderstanding with the FTC quickly," Brianne Murphy, an attorney for Shkreli, told CBS MoneyWatch."We believe Druglike does not violate Judge Cote's order as it is a software company rather than a drug company."
Former pharmaceutical executive Martin Shkreli seen August 4, 2017, in the Brooklyn borough of New York City.
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