Jonathan Stempel

NEW YORK, (Reuters) – The firm representing Martin Shkreli in antitrust cases said that it had not received payment and asked a U.S. Judge to allow them to stop representing him. He is best remembered for increasing the cost of a lifesaving drug 40 times.

Duane Morris LLP reported that Shkreli’s former company Phoenixus AG agreed for him to be compensated for his legal expenses, however, he refused to pay $2.04M due through March 31, even though he exhausted the insurance coverage limits to reimburse the costs in October.

Duane also claimed that Shkreli had no assets and could not pay the fees. This was in a Manhattan federal court filing. Shkreli was not opposed to its withdrawal, according to the law firm.

Phoenixus Lawyers did not immediately reply to our requests for comment.

Shkreli (39) was dubbed “pharma bro” when the cost of anti-parisitic drug, Daraprim, rose overnight from $17.50 to $750 per tablet in 2015. He also appeared unrepentant when criticised.

U.S. District Court Judge Denise Cote of Manhattan in January banned Shkreli’s entry to the drug market for life. She also ordered Shkreli to pay $64.6 Million. This was because he had illegally tried to stop generic Daraprim counterparts from being on the market.

The U.S. Federal Trade Commission brought the case along with seven U.S. state governments.

After being convicted of 2017 defrauding hedge fund investors and plotting to defraud another company, Shkreli now serves a seven year sentence in prison.

His release is possible on November 7.

The Brooklyn judge, who supervised the criminal case and the related U.S Securities and Exchange Commission civil case against Shkreli, permanently prohibited Shkreli’s participation as an officer and director in public companies.