‘Pharma Bro’ Shkreli Banned From CEO Role, Fined $1.39 Million

Martin Shkreli owes the SEC more than $1.39 million and is permanently barred from serving as a public company officer or director for his participation in “multiple” securities fraud schemes, a federal judge in New York said.

The former pharmaceutical company CEO, better known as “Pharma Bro,” faced Securities and Exchange Commission allegations of misleading investors in a hedge fund he founded and misappropriating funds. He’s “unfit to serve as an officer or director of any public company,” the U.S. District Court for the Eastern District of New York said.

Shkreli, 38, is serving a seven-year sentence at a ...