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Sam Robinson

In a fresh trouble for pharmaceutical industry entrepreneur Martin Shkreli, prosecutors are considering additional charges against Shkreli and may soon take a decision to expand the fraud case against him.

Shkreli founded Turing Pharmaceuticals AG and was called the "most hated man in America" by media for increasing the price of a life-saving drug overnight. He is charged with defrauding investors in hedge funds and Retrophin Inc., a biotechnology company run by him.

A securities fraud indictment would expand allegations that Shkreli illegally took stock from Retrophin to pay unrelated business debts, prosecutors told Brooklyn U.S. District Judge Kiyo Matsumoto.

Assistant U.S. Attorney Winston Paes said during a hearing on the case that no new defendants would be added to the case against Shkreli and Evan Greebel, a former outside counsel for Retrophin.

"My impression was the defense was raring to go," Matsumoto told defense lawyers, referring to earlier statements in court filings that Shkreli was eager to challenge the government's case. "But I understand you want to wait. I don't want to push you if you're not ready."

"We understand we might be facing additional transactions we haven't heard about before," Greebel defense attorney Reed Brodsky said of the potential new charges.

Shkreli's lead defense attorney, Benjamin Brafman, cited the not guilty plea his 33-year-old client entered in December and informed the court that Shkreli planned to proceed to trial, not consider a possible plea bargain. "We do not believe that this indictment will change in any way that affects Mr. Shkreli in a negative fashion," Brafman said. Shkreli is infamous for allowing a 5,000 percent price hike of Daraprim, a drug used to treat a parasitic disease that affects AIDS sufferers.
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