Former Employee Testifies Shkreli Threatened Him and His Family
He said Mr. Shkreli encouraged the group to pump up the stock’s trading volume, telling them to “buy it, sell it, buy it, sell it.”
Then, Mr. Shkreli began pressuring Mr. Pierotti to sell the shares back to him, Mr. Pierotti testified.
In an email in late December 2012, Mr. Shkreli wrote
that working on Retrophin together was “a big mistake,” and “all you have to do is agree to this and the nightmare will end for everyone.”
Mr. Pierotti said he did not know what Mr. Shkreli had meant by the Retrophin reference.
On cross-examination, Marc Agnifilo, a lawyer for Mr. Shkreli, suggested
that Mr. Shkreli believed there was an agreement that Mr. Pierotti’s shares were to “incentivize” him to “work hard on behalf of Retrophin.” Mr. Pierotti said this was not the case.
Prosecutors contend that Mr. Shkreli funneled shares of Retrophin to Mr. Pierotti
and others, keeping the allotments just under the threshold for reporting requirements, and controlled huge parts of Retrophin through the scheme without reporting that to financial regulators.
By STEPHANIE CLIFFORDJULY 18, 2017
Tim Pierotti, who once ran a consumer hedge fund for Martin Shkreli, said he had already lost faith in his boss by the end of 2012.
