Monday, May 2, 2016

[Brooklyn Cross-Post] Update From Martin Shkreli's Seven Felony Indictments Edition

Tomorrow, Mr. Shkreli has a largely routine call, for status and timelines, in Brooklyn -- related to the seven count felony criminal indictment.

Here's "what's good, Miley" -- and, here's what's new: Mr. Shkreli Has Just Waived His Challenges To An Earlier Ruling Setting Aside "Client-Attorney Privilege" -- In The Felony Criminal Matters, Out East

I know. I KNOW. I said I wouldn't -- "WOULD NOT" -- but I cannot resist:

So, it seems that Mr. Shkreli's criminal defense counsel just filed a one page letter, in Brooklyn's federal District courthouse, in anticipation of tomorrow's largely routine hearing on schedules & timelines, etc....

The one pager makes it clear that rather than fight about whether Messrs. Shkreli and Greebel have, by their respective courses of conduct, effectively waived attorney-client privilege, under the "crime/fraud" doctrine (as the very able Judge Weinstein has previously ruled, in Brooklyn), Mr. Shkreli will simply not dispute that such a waiver has occured.

In doing so, Mr. Shkreli then may introduce potentially all the Greebel communications he ever received -- all then to be made part of the record, or at the very least large, chunks thereof, as evidence. He will then (presumably) argue that he simply relied on Mr. Greebel's advice -- as he (at least arguably) inadvertently commited the crimes for which he has been indicted. Of course: he was an innocent, and just followed his lawyer's instructions. That's the gist of it.

Ahem. As a matter of criminal law, that defense will only hold water if a reasonably well-informed lay-person in Mr. Shkreli's shoes could not have known (with reasonable diligence, on his part) that the conduct was unlawful -- or criminal. [He hinted at this line of defense, in an earlier MSM interview, when he said essentially "no one can tell if they've broken the securities laws, as they are just so darn complex...." Lunacy, that. For years he's been telling the world what a sophisticate -- as to all affairs Wall Street -- he forever has been. . . .]

And as Mr. Shkreli argues this line of thought -- Mr. Greebel is highly-likely to counter-argue that Mr. Shkreli was the master-mind, and he (Mr. Greebel) was only trying to dampen Mr. Shkreili's otherwise allegedly bad intentions, by casting them in more legally-palatable gowns.

This could be a fire-fight for the ages -- between these two former compadres.

So I'll mention it -- and commemorate it -- with a graphic, above.

It also makes it at least marginally more likely that Mr. Greebel has in fact become a "cooperating witness," and is trying to cut a plea deal, to keep himself out of prison -- and pin it all on Mr. Shkreli. That is pure conjecture, however, on my part, given that from the facts thus far it is now clear that these two close (former) friends are plainly at odds, as to their interests, in describing the predicate events. Fascinating, no?

Having said all that, none of it is likely to materially change events inside the KaloBios Chapter 11, proper.

But now you know. Do go read that letter. It is only a one page PDF. Now I promise not to rubber-neck (too much) at the slow-motion trainwreck unfolding in Brooklyn, on these seven felony criminal charges. Can't stop. . . smiling. Truly.

No comments: