Latest

Martin Shkreli Resigns As CEO Of Turing Pharmaceuticals

Martin Shkreli

Martin Shkreli has resigned his position as CEO of Turing Pharmaceuticals

Pharma bro Shkreli, the entrepreneur who sparked outrage for hiking up the prices of a life-saving drugs, was arrested by the FBI at his Manhattan apartment early Thursday morning and charged with securities fraud.

CBC News reports:

The company said board chairman Ron Tilles has been named interim CEO.

Shkreli was arrested in New York City and charged with securities fraud related to his former hedge fund and a drug company he once ran.

A seven-count indictment unsealed in Brooklyn Federal Court charged Shkreli with:

Conspiracy to commit securities fraud.
Conspiracy to commit wire fraud.
Securities fraud.
He has pleaded not guilty to the charges.

The allegations against Shkreli on Thursday have nothing to do with the price-gouging accusations that turned him into a poster boy for corporate greed back in September.

Shkreli was widely attacked when he jacked up the price of Daraprim, a potentially life-saving anti-parasitic drug treatment, from $13.50 US a pill to $750.

Several people on Twitter took the opportunity to mock Shkreli after he tweeted he was happy to be home.