Hated 'Pharma Bro' Who Spiked HIV Drug Price Arrested On Fraud Charges
Martin Shkreli, CEO of the company that raised the price of a life-saving drug, was reportedly arrested on fraud charges unrelated to the drug price.By Samantha Crook | December 17, 2015
The pharmaceutical CEO who raised the price of a life-saving drug more than 5,000 percent was arrested this morning, according to Bloomberg.
The outlet reports federal prosecutors charged Turing Pharmaceuticals' Martin Shkreli with securities fraud — seemingly unrelated to the price hike. He's currently out on $5 million bond, and his travel is restricted to parts of New York. (Video via Bloomberg)
Bloomberg says prosecutors charged Shkreli with taking stock from his former company Retrophin to pay off "unrelated business dealings."