Clear
58.6 ° F
Full Weather
Sponsored By:

Ex-drug company CEO Martin Shkreli sues former investor

Sponsored by:

NEW YORK — The former drug company executive known as Pharma Bro has sued the son of one of his investors over losses from a failed hedge fund.

The federal countersuit was filed in New York City on Friday by the convicted former drug company CEO. It claims the son of George Yaffe pressured Martin Shkreli into signing an invalid promissory note for $250,000 after Yaffe lost a $100,000 investment in 2012.

Last year, a state court judge ordered Shkreli to pay Yaffe more than $420,000 covering the promissory note plus interest.

Shkreli was sentenced to seven years in prison last year for looting a drug company he founded of $11 million to pay back investors in failed hedge funds he ran.

Before his arrest, Shkreli was best known for drastically raising the price of a lifesaving drug.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate
Feedback