America’s Least Favorite Pharma Bro Martin Shkreli Just Got Arrested by the FedsPosted: December 17, 2015
AIDS activists and others are asked to leave the lobby during a protest highlighting pharmaceutical drug pricing. AP Photo/Craig Ruttle, File
Martin Shkreli, the 32-year-old hedge fund and pharmaceutical industry guru who alienated large swaths of America by dramatically jacking up the price of a life-saving drug this September, was arrested by the FBI at his home in Manhattan early Thursday morning, as Bloomberg reports.
Shkreli first rose to national prominence when he raised the price of Daraprim, a drug that treats toxoplasmosis, from $13.50 to $750 overnight. The move drew condemnations from across the political spectrum, as well as the scrutiny of Congress, but after briefly suggesting he would walk back the price hike, Shkreli decided to go ahead with it. He even teased plans to acquire the rights to—and significantly raise the price of—another infectious disease treatment earlier this month.
But Shkreli, who bolstered the legions of haters when he paid $2 million to acquire the only copy of the new Wu-Tang album in existence, is not being charged for price-gouging. Instead, the charges, brought by federal prosecutors in Brooklyn, are for securities fraud…(read more)
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