Shkreli stepped down as CEO of Turing, the company said on Friday, a day after he was charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy related to his management of hedge fund MSMB Capital Management and biopharmaceutical company Retrophin Inc.
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Disgraced pharma magnate Martin Shkreli defaulted to his defense-by-Twitter ways on Saturday to label allegations of fraud lobbed against him as “baseless and without merit”.
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The drug CEO, who became infamous when he raised price of HIV pill from $13.50 to $750 apiece, is wearing a purple PBS t-shirt and pajama bottoms.
Martin Shkreli, the pharmaceutical executive reviled for price-gouging, resigned Friday as head of the drugmaker Turing Pharmaceuticals.
He abruptly left the screen to answer a phone call which he claimed was regarding “some unspecified business activities”. Here is the recap: (Radio.com) Turing Pharmaceuticals CEO Martin Shkreli has been accused of exerting undue financial influence over the music industry, drug markets and our political system.
If convicted, Shkreli would face a maximum sentence of 20 years imprisonment.
A person close to SeraCare told CNBC that some board members were also likewise doubtful about the offer, and also questioned Shkreli’s ability to pay. Despite that, people said Shkreli would come back to Hunter frequently “in a suit and in a briefcase, hanging out in the hallways and sort of showing of”.
Turing Chief Commercial Officer Nancy Retzlaff said in a statement: “We pledge that no patient needing Daraprim will be denied access”.
“Among the accusations leveled by the Securities Exchange Commission: that when Shkreli stated in 2010 that his hedge fund was managing $35 million in assets, the fund actually had less than a combined $1,000 in its bank and brokerage accounts”.
Shkreli reportedly spent $US2 million purchasing a one-of-a-kind secret album from the Wu-Tang Clan.
“I’d love to date Lindsey Lohan”, he said at one point.
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Trading in KaloBios shares was halted early Thursday, after Shkreli’s arrest, and hasn’t resumed.
