FTC moves to hold Martin Shkreli in contempt for alleged biotech stock scheme

According to the FTC, Shkreli bought and sold stock in at least 60 drug companies while broadcasting his activities online. In one broadcast he claimed to teach viewers how to invest in biotech, and in another he called his method a "magic trick" that lets him profit regardless of his own trades. The agency also alleges he used the streams to encourage short positions based on his predictions about clinical trial results. The contempt filing seeks to enforce a prior ban on his pharmaceutical-related activities.