Price-Gouging Pharma CEO Martin Shkreli Arrested

[Digest: Bloomberg; Daily News; Reuters]

Widely despised pharmaceutical CEO Martin Shkreli, who earned his notoriety by artificially inflating the price of a life-saving AIDS medication by 5,000%, was arrested at his home in Manhattan on Thursday.

Second Nexus

Credit: Source.

32-year-old Shkreli was taken into custody by the FBI early on Thursday morning for securities fraud. The charge is the result of an ongoing investigation into Shkreli’s biotech firm and hedge fund.

The charges do not appear to be related to his tenure as CEO of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc.

Reuters reports that shares of KaloBios fell 53% in premarket trading.

Evan Greebel, a New York City attorney, was also arrested. Shkreli and Greebel will likely appear 

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Price-Gouging Pharma CEO Martin Shkreli Arrested

by Second Nexus Staff time to read: 1 min
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