Martin Shkreli Arrest: Ex-Turing Pharmaceuticals CEO Remains Defiant, Rejects …

23 Dec 2015 | Author: | No comments yet »

Martin Shkreli Arrest: Ex-Turing Pharmaceuticals CEO Remains Defiant, Rejects ‘Baseless’ And ‘Unacceptable’ Charges.

In his first interview since he was charged Thursday for allegedly misleading investors in his hedge funds and raiding a public company to cover the losses, Mr.

Hackers infiltrated the Twitter and YouTube accounts of pharma price-hike creep Martin Shkreli on Sunday — prompting the accused Ponzi schemer to lash out at his cyber-nemeses as “10 years old.” “I don’t know [who did it] . . .Martin Shkreli (2nd R), former CEO of Turing Pharmaceutical, is brought out of 26 Federal Plaza by law enforcement officials after being arrested for securities fraud on Dec. 17, 2015, in New York City.Disgraced pharmaceutical chief Martin Shkreli, who became infamous this year for raising prices of drugs in order to increase his company’s profits, resigned Friday from Turing Pharmaceuticals following his arrest the previous day on securities fraud charges, according to Bloomberg. Based on what the individual wrote on my Twitter, it sounds like they are 10 years old,” the 32-year-old alleged crook, who was busted on wire- and securities-fraud charges last week, told The Post. Moffitt has suspended the clinical trial, which was to have been funded by KaloBios, indefinitely “pending the outcome of the investigation of KaloBios’ CEO,” the center’s spokeswoman Patricia Kim said Saturday in an email.

In an interview with the Wall Street Journal just days after he was arrested on charges of securities fraud, ex-Turing Pharmaceuticals CEO Martin Shkreli accused authorities of targeting him for his decision to raise the price of a life-saving HIV drug from $13.50 to $750 earlier this year. In the federal indictment and a complaint by the Securities and Exchange Commission, authorities said Shkreli started losing money and lying to investors from the time he started managing money. The cyber sneaks broke into Shkreli’s Twitter and posted a string of expletive-riddled messages that mocked the disgraced businessman and well-known egomaniac. Shkreli stands accused of running a Ponzi-like scheme between 2009 and 2014 at his former hedge fund and a company he headed before Turing. “You know, the press conference they put on was unacceptable,” Shkreli told the Journal Sunday, referring to the conference held Thursday by the U.S. Shkreli was in the headlines yesterday as well after he revealed in an unsettling interview with HipHopDX, his plans for trying to bail out Bobby Shmurda, referring to him as “New York’s best chance for rap since 50 Cent”.

However, the Human Rights Campaign, the largest USA civil rights group for the lesbian, gay, bisexual and transgender communities, urged Tilles to cut the cost of the Daraprim to its earlier price. In the first rogue video, a man who identified himself as British hacker Steven Dawson repeated a post that infiltrators wrote on Shkreli’s Twitter page. Shkreli believes it is related to the recent drug price increases. “ ‘Trying to find anything we could to stop him,’ was the attitude of the government,” Mr. Shkreli said, flanked by his lawyers in a midtown Manhattan conference room Sunday afternoon. “Beating the person up and then trying to find the merits to make up for it—I would have hoped the government wouldn’t take that kind of approach.” The Brooklyn U.S.

Retrophin, which fired Shkreli more than a year ago, has since sued Shkreli in federal court, seeking $65 million from him, accusing him of misusing the company’s cash and stock. However, following release on a $5 million bail, Shkreli, who has, since September, been called a “morally bankrupt sociopath” and “the most hated man in America,” among other things, rejected the allegations, calling them “baseless and without merit.” On Friday, after returning home from prison, Shkreli started a live stream on YouTube where he could be seen playing an online chess game while responding to comments from viewers. Turing did not address Shkreli’s arrest, though it did note Turing is “committed to ensuring that all patients have ready and affordable access to Daraprim and Vecamyl”-the very drugs that brought Shkreli into the spotlight after he raised their prices”.

The company’s stock was trading at less than $1 before he made the move, and it subsequently rose to as high as $39.50, giving the company a market value of more than $100 million (Dh367 million). Prosecutors have charged Shkreli with illegally taking stock from Retrophin, a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings.

That sat above a retweet he had posted of a Vanity Fair profile from a day earlier, and a link to a Dec. 17 statement that also said Shkreli expected to be “fully vindicated.” Several other institutions were scheduled to participate in the trial. The 32-year-old, who tussled with presidential candidates and boasted of his romantic prowess on social media, now says that behavior has been “a bit of an act.” “What do you do when you have the attention of millions of people? Weill Cornell Medical College and Northwestern University’s Lurie Comprehensive Cancer Center had no immediate comment or didn’t return a call seeking comment. Then the company bought the rights to Daraprim, a half-century-old drug that treats a parasitic infection that can be deadly, and raised the price more than 50-fold.

Shkreli defended the decision by saying it would help him develop new drugs, a stance that made him the focal point of a national uproar over drug prices. He said he didn’t leave his Manhattan apartment on Friday or Saturday, the same one where he says nearly a dozen agents knocked at his door at dawn Thursday and took him into immediate custody. On Sunday, he says his social media, email and cellular telephone accounts were hacked; among the less profane posts hackers made in his name was the proclamation, “I am now a god.” In the interview Sunday afternoon, he wore the same gray, hooded sweatshirt that he had on when he was photographed after the arrest Thursday. He compared the more extreme of his myriad public actions—which includes streaming live on the Internet hourslong shows of himself playing chess, strumming guitar and answering scores of questions from strangers, as well as mocking Democratic presidential candidate Bernie Sanders—to temporarily adopting an accent.

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