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00:00:00
>> Martin Shkreli, the former pharmaceutical CEO, vilified for jacking up the price of a lifesaving drug, arriving at Brooklyn Federal Court Monday. The boyish 34-year-old dubbed pharma bro is facing charges he ran a ponzi like scheme at a hedge fund. Prosecutors say he misled investors about the funds performance then repaid investors with money siphoned from another firm, Shkreli's pleaded not guilty.
00:00:25
Reuter's legal correspondent, Brendan Pierson.>> Now we don't know exactly what Shkreli's defense is going to look like, but from what his lawyer said in court, he's gonna try to portray himself as a boy genius. A scientifically-minded person rather than a financier, who his investors trusted for his scientific acumen.
00:00:44
>> The securities fraud charges stem from actions Shkreli allegedly undertook before he became the CEO of Turing Pharmaceutical, where he briefly enjoyed a reputation as one of the most reviled people in America.>> Martin Shkreli first came to public attention in 2015 when he raised the price of a life saving drug by more than 5,000%.
00:01:03
He stayed a controversial figure after that, defending his actions in social media and sometimes bragging about his wealth. Talking about a Picasso painting he owns, a $2 million one of a kind Wu-Tang Clan album he bought, and clashing with journalists on social media. Eventually he was banned from Twitter in January for harassing a female journalist who criticized Donald Trump.
00:01:25
>> Shkreli faces up to 20 years in prison if convicted of securities fraud.