Notorious Pharma CEO Arrested On Fraud Charges
Source: Executive Grapevine
Martin Shkreli earned the epithet of “the most hated man on the internet” after he bought the rights to a life-saving-HIV-related drug and subsequently increased the price by 5,000%.
Now, the former Hedge Fund Manager is facing a possible 20-year jail sentence for fraud. Shkreli was arrested last week on allegations that between 2009 and 2014, he lost many of his investors’ money through bad trades and ill-conceived deals. He then stole £8.5 million from Turing Pharmaceuticals, the company of which he was the CEO, in order to pay his clients back.