The insurers' federal class action settlement was filed last night. Also filed last night, into that news hole in Manhattan created by the bombo-genesis snow fall was. . . a proposed definitive form of injunction by the FTC, against Martin. [These are the Daraprim® cases.]
It is notable that the United States Federal Trade Commission now (having won $64.8 million at trial) has the right to review and copy Martin's federal IRS Form 1040, from now on -- until (if ever) he pays that amount. The FTC also will see a full accounting of all his assets. Of course, if he lies on any of this -- it is back to jail, for him. Here's the bit:
". . .If Defendant Shkreli has not fully satisfied the monetary judgment ordered by this Court, a copy of Defendant Shkreli’s most recent tax return, a full and complete accounting of all Defendant Shkreli’s assets, and a full and complete accounting of all assets that Shkreli has transferred, sold or otherwise disposed of during the 12 month period preceding the submission of the Compliance Report. . . ."
Those are annual reports, to be clear. Forever. To be fair, Martin's lawyer at Duane Morris has filed a 17 page objection (attached to the FTC's proposed order) -- but it will be largely unavailing. Martin has earned this ride, full and fair.
The able USDC Judge Cote will enter about 95 per cent of what FTC has written, as proposed -- as her own order, Condor predicts. The one part that I think will be changed is that I think Judge Cote will agree that "Mr. Shkreli should not be precluded from conduct that does not involve commercialization of pharmaceutical drugs...." That is, she will say that he cannot make any compensation of any kind related to pharma. But he may still do his own non-profit work on drugs or biologics, at a university, for example -- so long as he or the university cannot monetize any discovery he makes. It must be given away, public domain, to the world. [Which is to say. . . he will have to work alone (if he works, at all) -- no, no university of any real repute will want him; and no drug company can take the chance of a single sale into the US markets.]
These sorts of orders -- in pharma -- have almost never been handed down. They usually are applied to pay-day loan sharks and direct Ponzi schemers. So there will be some new law here: for example, might Martin do wholly remote work (he's required by the BoP to remain inside the US -- Brooklyn most likely) for an entirely non-US company that sells nothing in the US related to drugs or biologics -- and be paid to design compliance systems, for British, EU / EEMA reporting, or for the Chinese version of the FDA (for example)?
So long as he is not being paid for or profiting from making or selling any drug or biologic into the US, it is hard to see how the US could assert jurisdiction over a Swiss company using him as its Swiss compliance/record-keeping consultant.
Having said that -- of course, every penny he might ever make automatically goes into a lock-box, to pay the $64 million judgment since we know he doesn't have the $64 large to cover that judgement (nor Dr. Koestler's now around $6 million).
Onward -- smiling. . . in sum, it will soon be tough to survive, at any halfway house, without access to some substantial (non-impounded) funds. . . the food is scant (and very low quality) -- and getting his meds will be a daunting proposition, without financial help from family and friends.
Yep -- that will be his next big challenge -- if he has completed the drug education and psychological programs at FCI Allenwood Low satisfactorily, in the sole view of the BoP. Otherwise he's not out until Fall of 2023.
नमस्ते
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