News

Martin Shkreli Has Been Arrested For Fraud

News

Martin Shkreli Has Been Arrested For Fraud

+

Martin Shkreli, the brash, unapologetic pharmaceutical CEO who rose to infamy earlier this fall when it was revealed he had vastly inflated the price of an AIDS-related drug from $13.50 to $750, (and had been bankrolling some independent record labels) has been arrested by federal authorities this morning.

The arrest, as Bloomberg points out, is for an unrelated matter.

Prosecutors in Brooklyn charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings. He was later ousted from the company, where he’d been chief executive officer, and sued by its board.

Shkreli had been in the headlines once again this month when he was revealed as the winning bidder of the sole copy of the $2 milllion Wu Tang album.

Nice, with Shkreli down, that only leaves roughly a few million other greedy douches — and the entire, sprawling capitalist apparatus — to go.

 

Photograph by Francesco Nazardo