Martin Shkreli, the former hedge fund manager under fire for buying a pharmaceutical company and ratcheting up the price of a life-saving drug, is escorted by law enforcement agents after being taken into custody following a securities probe. A seven-count indictment unsealed in Brooklyn federal court Thursday charged Shkreli with conspiracy to commit securities fraud and wire fraud
Martin Shkreli, the former hedge fund manager under fire for buying a pharmaceutical company and ratcheting up the price of a life-saving drug, is escorted by law enforcement agents after being taken into custody following a securities probe. A seven-count indictment unsealed in Brooklyn federal court Thursday charged Shkreli with conspiracy to commit securities fraud and wire fraud

Internet's most hated CEO arrested on fraud charges

MARTIN Shkreli ran his companies "like a Ponzi scheme", according to US Attorney Robert Capers.

The pharmaceuticals tycoon has been arrested on fraud charges.

The 32-year-old previously caused outrage by raising the price of life-saving HIV-related drugs from $13.50 to $750 ($18 to $1054).
 

WHO IS MARTIN SHKRELI?

At first, he said he would lower the price of Daraprim, but later changed his mind.

When Hillary Clinton tweeted that a 10 per cent price reduction was not enough, he responded with one word: "lol".

He is charged with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings.

"As alleged in the indictment, Shkreli essentially ran his companies like a Ponzi scheme, where he used each subsequent company to pay off the defrauded investors in the prior company," US Attorney Robert Capers said.
 

Martin Shkreli was despised after he boasted about his personal wealth while raising the price of a life-saving drug by 5000%
Martin Shkreli was despised after he boasted about his personal wealth while raising the price of a life-saving drug by 5000% Twitter


Southern Downs sends most swimmers to battle in WWI

Southern Downs sends most swimmers to battle in WWI

How one small club made a huge contribution when called to fight.

Puppy returned after being dog-napped south of Warwick

Puppy returned after being dog-napped south of Warwick

A grateful owner has been reunited with her beloved pooch

EIGHT MILE: State government urged to apply for upgrade

EIGHT MILE: State government urged to apply for upgrade

Pollies say they're 'waiting' for funding application for overpass

Local Partners