Shkreli plans to plead the Fifth at congressional hearing

WASHINGTON – The lawyer representing Martin Shkreli, the former biotech executive charged with securities fraud, has asked that his client be excused from testifying at a congressional hearing next week since he plans to invoke the Fifth Amendment, according to a letter.

In the letter sent Wednesday to Shkreli’s lawyer, Baruch Weiss, House Oversight Chairman Jason Chaffetz, a Republican from Utah, said Shkreli can’t invoke the Fifth Amendment, particularly for questions not related to his indictment.

Shkreli also hasn’t sought leave to travel to Washington, as required by his bail agreement, so he can comply with a subpoena to testify before Congress, according to a statement on Thursday from Rep. Elijah Cummings of Maryland. Cummings is the top Democrat on the House Oversight and Government Reform Committee, which subpoenaed Shkreli to testify at a Jan. 26 hearing on developments in the prescription drug marketplace.

“Neither Mr. Shkreli nor any of his legal representatives has taken any steps to inform the judge in his federal criminal case about the subpoena he received from the Committee ten days ago,” a basic requirement for seeking leave to travel, according to the Cummings statement.

The committee could agree to hear Shkreli’s testimony in executive session or immunize his testimony, Chaffetz said. The Fifth Amendment protects against self-incrimination.

Shkreli commented on the Chaffetz letter in a Twitter post on Thursday.

“Your attempt to subvert my constitutional right to the 5th amendment are disgusting & insulting to all Americans,” Shkreli said in the tweet.

Cummings said Shkreli could be held in contempt and receive jail time and financial penalties if he doesn’t show up.

AP-WF-01-21-16 2256GMT