Martin Shkreli, the CEO of Turing Pharmaeauticals, who infamously raised the price of a drug used to treat an infection particularly hazardous for people with HIV was arrested today on charges of securities fraud, reports Bloomberg Business.
According to prosecutors, Shkreli’s arrest today is unconnected to the price hike of Daraprim which he raised from $13.50 to $750 per pill. Speaking at the Forbes Healthcare Summit last month Shkreli said, “ I would have raised prices higher,” after being asked how he would re-do the past three months. “That’s my duty.”
Bloomberg reports that Federal prosecutors accuse Shkreli of engaging in a complicated shell game after a hedge fund he started lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements. A New York lawyer, Evan Greebel, also arrested early Thursday, is accused of conspiring with him.
Shkreli and Greebel have pleaded not guilty.
