STAT+: FTC demands Martin Shkreli divest his pharma stocks

The FTC has asked a federal court to hold Martin Shkreli in contempt for violating a court order banning him from working in the pharmaceutical industry.

Shkreli, known for raising the price of a life-saving drug by 5000%, was previously convicted for securities fraud and is currently serving a seven-year sentence.

The FTC alleges that Shkreli has been secretly working in the pharmaceutical industry through a third party, violating the terms of his release.

If found in contempt, Shkreli could face additional fines or even jail time.