Ex-drug executive Shkreli has $40 million trading loss: U.S

February 3, 2016 5:22 PM

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NEW YORK Former pharmaceutical executive Martin Shkreli suffered a roughly $40 million drop in the value of a trading account used to secure his bail following his arrest on securities fraud charges, a U.S. prosecutor said on Wednesday.

At a hearing in federal court in Brooklyn, Assistant U.S. Attorney Winston Paes said the account contained mostly shares of KaloBios Pharmaceuticals Inc KBIOQ.PK, a drug company that Shkreli briefly ran.

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