Infamous pharmaceutical CEO Martin Shkreli was found guilty Friday on two charges of securities fraud and another charge of conspiracy to commit securities fraud.
Shkreli, who gained infamy for being CEO of Turing Pharmaceuticals when it raised the price of an antimalarial drug by 5,000 percent, was on trial for defrauding investors in a separate company. He left Turing after he was charged by the federal government last year.
Shkreli was found guilty on three of eight charges by a New York jury after five days of deliberations.
The trial focused on whether Shkreli defrauded investors in a company called Retrophin Pharmaceuticals. Shkreli had used profits from a separate hedge fund to prop up Retrophin. His lawyers argued that he did not lose any money for his clients, so therefore they were not harmed.
Shkreli could face a maximum of 60 years in prison for the convictions and fines for the money he fraudulently obtained.
Shkreli gained attention in 2015 and was called before Congress after Turing raised the price of the antimalarial drug Daraprim from $13.50 a pill to $750 practically overnight.
He defended the increase, even saying at one point that he would have raised the price more if he could.
Shkreli's antics brought attention to a practice that some drug companies use to raise prices. Daraprim has been on the market for decades and the patent has expired. However, the drug had a small patient population and no competition.
That left Turing with an opportunity to acquire the rights to the drug and quickly raise the price without fear of competition, especially with approval for generics taking nearly a year by the Food and Drug Administration.
The price hike by Turing, and a similar increaes by the company Valeant, led to outrage on Capitol Hill and a memorable hearing in 2015 of the House Oversight and Government Reform Committee.
Shkreli attended the hearing but didn't answer questions after taking the Fifth Amendment.
But Shkreli enraged lawmakers by smirking during their recriminations of his actions.
Rep. Elijah Cummings, D-Md., called for Shkreli to stop smiling at one point.
"People are dying," he snapped.
Shkreli tweeted afterward that the hearing was a waste of time, calling the lawmakers imbeciles.
Shkreli at times appeared to revel in his role as the villain. He spent nearly $3 million to buy the sole copy of an album from the legendary hip-hop group Wu-Tang Clan, and was later banned on Twitter for harassing writer Lauren Duca.
However, Shkreli has not left his favorite medium. A Twitter account called @samthemanTP is believed to be Shkreli's.
Soon after the verdict, the account tweeted that "after that witch hunt, I'll take it."
Shkreli also held a livestream on Youtube after the verdict. He mused while drinking a beer in his apartment that he thought at maximum he could get six months to a year in prison. He also said he might appeal.
"The thing I have learned a lot about criminal justice is that the headline sentence of a year is roughly four months in actual prison," he said.
"If that's all they can come up with after spending tens of millions of dollars of taxpayer spending, then more power to them," Shkreli added.