A drug company CEO who jacked up the price of life-saving HIV drugs has been arrested on securities fraud charges relating to a firm he founded.
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Adelson himself has said nothing beyond issuing a family statement vowing to invest in the newspaper to make it top notch. Seaman said Review-Journal reporters have earned respect for their dogged reporting about their own sale.
The hoodie-clad world of Martin Shkreli, escorted to court in handcuffs yesterday, continues to fall apart today as he announced he was stepping down as CEO of Turing Pharmaceuticals AG, the company he had co-founded.
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Brooklyn U.S. Attorney Robert Capers said the reviled businessman operated his companies like a Ponzi scheme. Evan Greebel, a NY lawyer, is said to have a role in this scheme and he was also arrested and charged.
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He pleaded not guilty to charges of securities fraud and conspiracy, which carry a sentence of up to 20 years in prison if he is convicted. They were both released on bail but ordered to surrender their passports and restrict their travel.
He was arrested by the Federal Bureau of Investigation yesterday after being accused of securities fraud.
Turing and Mr Shkreli sparked controversy earlier this year after it reportedly raised the price of Daraprim, a 62-year-old treatment for a unsafe parasitic infection, to $US750 a tablet from $US13.50.
Turing has offices in NY and Zug, Switzerland.
In one instance, the SEC said, Shkreli told an investor that MSMB Capital had $35 million in assets under management when it actually had less than $1,000 in its bank and brokerage accounts.
Shkreli’s exit comes one day after Turing issued a short statement about the charges against him, saying on Thursday, “The legal matters concerning the founder and CEO Martin Shkreli are personal and have no bearing on Turing Pharmaceuticals”.
Turing representatives didn’t respond to an emailed request for comment on Tilles’ role at Retrophin, and the company’s voicemail inbox was full on Friday afternoon.
Shkreli has been the focus of widespread criticism in the media, which dubbed him “the most hated man in America”, as well as by politicians.
Mr Shkreli recently became chief executive of another company, San Francisco-based KaloBios Pharmaceuticals.
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Trading in KaloBios shares was halted early Thursday, after Shkreli’s arrest, and hasn’t resumed. “Thanks for the support”.
