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NEW YORK (AP) — The Latest on the securities fraud trial of Martin Shkreli (all times local):
Jurors at the securities fraud trial of "Pharma Bro" Martin Shkreli will begin deliberations on Monday.
A judge instructed the jury on the law for most of the afternoon on Friday before sending jurors home for the weekend.
Earlier in the day, the jury heard closing arguments by prosecutors accusing the former pharmaceutical CEO looted his own drug company to pay back disgruntled investors in two failed hedge funds he ran. The defense insisted there are no victims because everyone got their original investments back and even made hefty profits.
The 34-year-old Shkreli is best known for jacking up the price of a life-saving drug by 5,000 percent and for trolling his critics online.
A prosecutor says a securities fraud trial has exposed "Pharma Bro" Martin Shkreli as a "con man."
Assistant U.S. Attorney Jacquelyn Kasulis said in closing arguments Friday that the evidence at the trial in federal court in New York City proved the former pharmaceutical CEO looted his own drug company to pay back disgruntled investors in two failed hedge funds he ran.
The defense argued that a drug company official who testified for the government was biased because if Shkreli is found guilty of a felony, the company could justify his firing in 2014 and gain ammunition in its $65 million lawsuit against him.
Shkreli is best known for jacking up the price of a life-saving drug by 5,000 percent and for trolling his critics online.
This story has been corrected to show that $65 million refers to damages sought in a lawsuit, not a $65 million stake in a drug company.
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