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.
KaloBios filed for bankruptcy in December, wiping out most of…