16:24, January 03 218 0 abajournal.com

2018-01-03 16:24:05
Ex-BigLaw partner who represented Shkreli faces possible 20-year sentence

A former income partner at Katten Muchin Rosenman faces a sentence of up to 20 years in prison when he is sentenced for his role in a securities fraud scheme by convicted former drug company CEO Martin Shkreli.

The lawyer, Evan Greebel, was convicted on Dec. 27 on charges of conspiracy to commit wire fraud and conspiracy to commit securities fraud, report the New York Law Journal (sub. req.), Bloomberg News and Reuters.

Greebel was accused of helping Shkreli pay off investors who lost money in his hedge funds with assets from drug company Retrophin. Prosecutors had argued Greebel used fraudulent settlements and consulting agreements to transfer the money.

The New York Law Journal reported that members of Greebel’s defense team “appeared shocked by the verdict,” while Greebel’s wife began to cry.

Shkreli was convicted on three of eight charges in August. The counts related to lying to hedge fund investors and scheming to control shares of Retrophin.

A lawyer for Greebel, Reed Brodsky of Gibson, Dunn & Crutcher, told reporters after the verdict that Greebel’s association with the “toxic” Shkreli made it difficult to get justice. “This is a case where we believe and hope that the judge will evaluate the evidence and the law and right this injustice,” Brodsky said.

Shkreli had received widespread publicity when he led another pharmaceutical company and raised the price of an AIDS medication more than 5,000 percent.