Trials and Arbitration

Shkreli portrayed as con, prodigy at securities fraud trial

Former pharmaceutical CEO Martin Shkreli was portrayed both as a swindler by the government and as a well-meaning prodigy by his lawyers on the second day of closing arguments Friday at his securities fraud trial.

The trial in federal court in Brooklyn "has exposed Martin Shkreli for who he really is — a con man who stole millions," Assistant U.S. Attorney Jacquelyn Kasulis told jurors.

Prosecutors allege that the 34-year-old Shkreli looted his drug company, Retrophin, of stock and cash so he could pay back disgruntled investors in a pair of failed hedge funds he ran. Investors testified that the defendant repeatedly lied to them about what was going on with...