Turing Pharmaceuticals CEO Shkreli arrested by FBI: Reuters

[Nye Bevan]

Source: CNBC

Pharmaceutical entrepreneur Martin Shkreli was arrested by the FBI on Thursday, amid a federal investigation related to his former hedge fund and a drug company he previously headed.

The previously disclosed investigation of Shkreli, 32, who is now chief executive of Turing Pharmaceuticals, stemmed from his time as manager of hedge fund MSMB Capital Management and chief executive of biopharmaceutical company Retrophin Inc .

His arrest, witnessed by Reuters, comes amid a continuing separate controversy that has turned Shkreli into a lightning rod for growing outrage over the soaring prices of prescription drugs.

Read more: http://www.cnbc.com/2015/12/17/turing-pharmaceuticals-ceo-shkreli-arrested-by-fbi-reuters.html

---

Couldn't happen to a nicer guy!

[Itchinjim]

1. Ha!

Karma's gonna get ya!
Hehehehe!

[Bubzer]

48. Or as I like to think of it; Christmas came early

[Liberal_in_LA]

71. Yes indeed

[longship]

2. Woo Hoo!!

[Proserpina]

3. A true Xmas present for America and the world

Thank you, FBI. You done good.

[Liberal_in_LA]

80. Perp. Walk . He is no longer smirking

[Kingofalldems]

122. He's wearing The Shroud of Turing.

[Liberal_in_LA]

133. Lol. Duzy

[marble falls]

148. Thankyou for posting these. I don't take much pleasure in other people's problems....

but this is a towering exception. This guy needs this experience if only to get him grounded a bit.

[christx30]

151. Find the webcam footage of him

that TMZ has been floating around. Shows him and his smug smirk just hanging out in front of his computer. He is listening to voicemails. Gets to one that starts out "This is special agent" and he turns it off really quick. And that smirk falters for just a sec. But it's beautiful.

[Liberal_in_LA]

152. In response to HIV folks possibly not being able to afford the drug he posted

"So sad. Too bad" or something close to it

[marble falls]

153. Karma rolls clear around. I bet he's finally an outside PR firm. I see him taking his....

one of record and auctioning it off to benefit a charity of one kind or another.

He's compelling in a despicable sort of way. He was just so "so what" about everything. If some of the news reports are correct, he may be in serious trouble.

The board of a company he founded fired him and are suing him for, I believe $67million(?).

[paleotn]

4. Yes!!!!! (nt)

[yardwork]

5. I'm sure that Big Pharma is having a cow.

He's blowing their cover. They'll help the Feds take him down.

[7962]

14. This has to do with ripping off his FORMER company, not the price increases

But I'll take him behind bars anyway I can get it

From what I've read, most Pharma CEOs are laughing like hell right now. They hate him too

[Tab]

24. Yeah, Karma's a bitch

I don't shed any tears for this arsehole.

[yardwork]

32. I'm saying that they will help the Feds take him down.

There's plenty they can do to help, and they will. They want him out of the picture.

[7962]

42. I sure hope so. They certainly would have the resources to assist.

Brought down by his own kind. That would be great. And MAYBE show others that you can go too far.

[pipoman]

50. This has to do with being a bigshot on the gouging story sparking an investigation into his life...

Without the gouging we almost assuredly wouldn't be talking about an arrest now.

[7962]

62. Retrophin had already filed suit for 65 million & reported him to the feds

They made it ver clear in public what they thought he had done. And if you go further back, he's done a lot of underhanded shit.
But you are likely correct; him being the public pariah that he is gives the feds a chance to look like they're actually doing something for a change. In reality, he should have been arrested long ago or at the very LEAST had his license taken away.
Just hope he doesnt squirm his way out of this

[iandhr]

93. Exactly

Kind of like Capone. If you can't get him for murder you get him for cheating on his taxes.

[angryvet]

126. yes but

the drug price increases were meant to pay for the damage he did at the other company. Notice that stupid smirk no longer on his face.

[7962]

130. The FIRST time I've ever seen him without that smirk!

Lets hope there will be MORE times we see it.
I really do NOT like this guy. I rank him and Dick Cheney about the same level

[Divernan]

6. Hedge fund owners are blood-sucking grifters - all of them!

Know what I'm sayin', Vern?!?!?

Every. Single. One. Of. Them.

No exceptions.

[hobbit709]

7. The wheel of Karma grinds slowly but it grinds exceedingly fine.

[FailureToCommunicate]

17. Perfect!

[Plucketeer]

60. Just LOOK at that confident grin

The mask of the evil within.

[Kalidurga]

102. it's not masked very well

[bullwinkle428]

30. I will disagree - I knew it would catch up to him eventually, but not

in my wildest dreams did I think it would happen this quickly!

[Orrex]

8. Arrested for openly carrying a smug, shit-eating grin

[joshcryer]

22. +1

[titaniumsalute]

9. You just knew this asshole would go down sooner than later

[harun]

128. He's another ponzi scheme hedge funder

They had the goods on him for a while, the drug price hiking just made it easier.

[Vinca]

10. You might call this Pharma Karma. It made my day.

[LittleGirl]

19. Love that! Pharma Karma. stolen. :-) eom

[mountain grammy]

51. Pharma Karma.. excellent!

[KeepItReal]

11. He wasn't arrested for price gouging medication like 5000%

Just using shares of stock inappropriately.

Which is the bigger outrage?

[metalbot]

12. The free market reacted very quickly to his price gouging

While what he did was horrible, and I'm certainly not praising it, the end result of his action is that generics of the same drug are now available in the US for cheaper than what they cost before he jacked the price. It also make it clear to everyone that the guy is a shitbag, so it seems to be win-win in the end.

[Divernan]

38. Hedge fund owners are slick grifters & generally bad news.

http://guardianlv.com/2015/01/hedge-fund-owner-allegedly-killed-by-son-30-after-cutting-his-allowance/

Hedge Fund Owner Allegedly Killed by Son, 30, After Cutting His Allowance

http://www.finalternatives.com/node/28393

Children Of Wall Street Elite Launch Hedge Funds

Sep 22 2014 | 10:56am ET
Launching your own hedge fund may be a rite of passage for the children of Wall Street's elite.

http://abcnews.go.com/US/hedge-fund-owner-face-million-monthly-child-support/story?id=29210043

Hedge Fund Owner Could Face $1 Million Monthly Child Support Payments (Headline)
In Contentious Divorce Case, Multibillionaire’s Wife Asks Judge to Void Prenup

A multibillionaire hedge fund owner could be on the hook for nearly $1 million a month in child support -– including staggering sums for a private jet, vacations and stationery -– according to newly filed court documents in an Illinois case that threatens to be one of the biggest divorce settlements in the country. Ken Griffin filed for divorce last year from his wife Anne after 11 years of marriage, citing irreconcilable differences. The couple is the parents of three children, ages 2, 4 and 7.

In those court filings, Ken Griffin says his estranged wife reported how much it costs to raise their children each month, including $14,000 for food, $300,000 for a private jet, $160,000 for vacations and $2,000 for stationery. The marriage included five homes, access to two private airplanes, a household staff and 24/7 security services for the children.

Dias Griffin is also asking a judge to throw out her prenuptial agreement, which she says entitles her to only 1 percent of her husband’s estimated $5 billion estate -– or around $50 million. She says she signed the document under duress the day before the couple's 2003 wedding in Chicago.

Griffin is the founder of the Chicago-based Citadel LLC.

AND MY FINAL EXAMPLE: A BLOOD-SUCKING HEDGE FUND, coming to suck your community dry of thriving local business franchises.

http://www.salon.com/2014/09/17/the_real_olive_garden_scandal_why_greedy_hedge_funders_suddenly_care_so_much_about_breadsticks/

Wednesday, Sep 17, 2014 04:45 PM EDT
The real Olive Garden scandal: Why greedy hedge funders suddenly care so much about breadsticks (headline)
Remember that "hilarious" report last week ripping the chain eatery to pieces? The back story will infuriate you (subheadline)

Except Starboard Value (the hedge fund) does not spend its time crusading for better mid-market Italian meals for no reason. It owns a bunch of shares in Olive Garden’s parent company, Darden Restaurants, and wants to take control of the company’s board. The scheme it’s concocted to increase its share price has little to do with breadsticks and pasta water. It really wants to steal Olive Garden’s real estate, and make a billion dollars in the process.

Starboard Value doesn’t try to hide this. Right in the executive summary, it talks up Darden’s real estate holdings the way a starving man sizes up a steak. Darden, owner of LongHorn Steakhouse, Capital Grille and other chains, “has the largest real estate portfolio in the casual dining industry, owning both the land and buildings on nearly 600 stores and the buildings on another 670,” Starboard Value writes. “We believe that a real estate separation could create approximately $1 billion in shareholder value.”

[JDPriestly]

107. Too much supply of capital and too little demand for it.

So those who have it waste it, spending far too much on things they don't need or could easily do without or pay too much for.

Gone is the wise frugality of early America.

And that is the real problem in this country.

A few want to have it all. They can't have it all and be part of a functioning economy. It isn't a matter of jealousy or wanting to take what rich people have. It is a question of whether we are a society. If we are a society, then we have to use our resources well.

The wealth you describe in your post is just excessive. And the power, the control over others that go with that excessive wealth, that concentrated control of the capital in our society, is dangerous for us all. It's a house of cards. One very wealthy person folds, and our whole society folds with him.

Feel the Bern!

I's not about socialism. It is about having a creative, functioning capitalism. You just don't have that when the wealth is as concentrated in a few hands as it is in this country. Especially when that wealth is concentrated in the hands of people who do nothing really useful with their hands.

[Divernan]

109. Very, very wise observations!

[Tab]

26. Proving Al Capone was a bitch

but they got him on tax evasion.

Likewise people don't understand why certain offenders get away with a particular transgression; I know they'd like to see justice for their particular incident, but sometimes you have to be happy the jerk is in jail, regardless of what criteria he's in for.

[passiveporcupine]

118. Aslong as he stays there for a long time

unfortunately, white collar crime usually gets a lot less time than most others, no matter how many people it hurts.

If it's just hurting the wealthy (like Madoff), not such a big deal, but when it hurts everyone (like our stock market crash) these greedy people behind it should be in jail for life.

[jmowreader]

119. You should read Eliot Ness' book

Finding Capone guilty of something was the easy part because there was so much to use. The real bitch was shutting down Capone's manufacturing and distribution network; they wanted it gone because they knew if they just threw Capone in the pokey it would continue. (They knew this because Capone got a year in the Philadelphia City Jail on a gun charge and the beer flowed freely all that time.)

Why tax evasion? They wanted Capone locked up, and "for what" was a secondary consideration. They broke the case against him into several pieces; if he beat the tax rap they could try him for manufacturing, for distributing, murder and so on. Fortunately the jury brought a guilty verdict the first time out.

[Tripper11]

13. Karma!

Couldn't happen to a worse person...well, Cheney, Bush II, etc, but you get the point.

[closeupready]

73. +1.

Never fails.

[nitpicker]

15. No wonder he jacked up the price of the drug

He needed the money!

[7962]

16. There are a few things I've hoped would happen to him and this is one,

Now the other I wont put into words because it would likely get a hide

[drmeow]

91. It would be a reluctant hide

cause enough of the jury would agree with you

[nitpicker]

18. Link to Bloomberg

http://www.msn.com/en-us/money/companies/ceo-reviled-for-drug-price-gouging-is-arrested-on-fraud-charges/ar-BBnEN3Z?ocid=spartanntp

[7962]

20. Here's what another Biotech CEO said about Shkreli's company:

George Scangos, CEO of biotechnology giant Biogen Inc., went further, saying in an interview, “Turing is to a research-based company like a loan shark is to a legitimate bank.”

These guys dont like this asshole

[ProfessorGAC]

82. Exactly How Did He Get There?

It's not like their doing any extra-earthly innovation, as evidenced by the guy from Bio-Gen

Don't want to sound like an old guy on a "get off my lawn" rant, but there is no way a guy at 32, in what would now be his 5th job, is ready or able to run a corporation.

This seems more like the flim-flam man and is not really a legitimate business.

[7962]

94. EXACTLY what he is. Here's a history: He started Turing after Retrophin's BoD fired him;

and he also had started Retrophin!!! So after getting fired, he immediately started Turing to do the exact same thing as Retrophin; aquire low priced legacy drugs and raise their prices so as to inflate the bottom line. When he got the bad press for the price increase, (remember, he did the exact same thing at Retrophin, to a lesser degree) he then jumps over and announces he's taking a huge interest in Kabios, which had just announced they were about to liquidate because they were in such bad shape. So he was going to start the SAME thing over again.
THAT stock then goes from >2 bucks to over 40 OVERNIGHT, which squashed all the short sellers (which Shkreli is notorious for). So instantly his share value was up 8000% in ONE DAY. This is a company losing EIGHT dollars a share. So this is what he does; one scam to another. But enough people see him getting away with it that they follow his every move trying to make a hit for themselves.
After his arrest was announced, KBIO dropped over 50% and has been halted. I hope it goes back to near zero where it belongs.
Prior to all this, he was known for finding small companies with low volume, selling the stock short, then releasing a news brief where he would make up bad shit about the company. Which of course would spook shareholders into selling their shares, dropping the price. He covers the shirt & makes a ton of money and moves on. MEanwhile, the company is left scrambling to PROVE that what he says wasnt true. By the time they do, the damage is done. NAVB is a great example. It still hasnt recovered from his short attack.

And thats a SHORT history; he's also run his own hedge fund, MSMB, into the ground and been sued by several people from that. Retrophin has sued him currently for 65 million.
He is a college dropout, has no backround in anything biotech related. He will tell you he's "self-taught". He needs to be beaten with a lead pipe.

[ProfessorGAC]

108. Great Facts

Unfortunately, it doesn't answer my fundamental question, or probably the same question you have. How does a guy who really doesn't know how to do anything get to a position of power to do even further damage?

It's not like Silverspoon who started with a shipload of money and a huge network of rich family associates. That it could happen that way is lamentable, but ultimately understandable.

This guy had nothing; achieved nothing; show some ability to self-promote and rose to the top of a company before he was 30?

There is something else in the background we don't know yet.

[7962]

113. There are no requirements to starting a company and calling yourself the boss.

He made his initial money working at a hedge fund then just went out and started his own when he was still young. Probably started lying at an early age in order to profit by short selling, which allowed him to open a bigger fund. And since he started it, he got to call himself "CEO".
So he actually has NEVER "risen to the top of a company", he just starts them or buys enough shares to get in the CEO chair.

If you REALLY want to get pissed, look up some of his interviews. Its like listening to the cocky high school QB who has all the girls falling all over him
Here's an article from today with a history of his tweets.
http://mashable.com/2015/12/17/martin-shkrelis-greatest-hits/#gnub8hi_qPqX

[ProfessorGAC]

116. No Thanks

I'm pissed enough already! Thanks for letting me vent.

At the same time, he did get people to buy in. Why would anybody buy in to a company run by a guy who's only clear ability is a willingness to perform a high wire act with other people's money?

[7962]

117. I guess they figure they'll get rich riding his train. Thats what happened with KBIO

The price shot up when he bought in because people knew he was up to something. They didnt care WHAT as long as they could buy at 2 and sell higher.
One of my friends who HATES this guy even did it. Bought in around 8 and dumped it at 32. All totally legal, but financial musical chairs!

[ProfessorGAC]

120. Like A Card Counter At The Blackjack Table

I know it's not illegal too. I get that. But, the presumption is that everything is on the up and up and it's free market capitalism.

As soon as you distort the system, it's not a free market anymore.

Might not be illegal, but certainly doesn't seem right.

[7962]

131. I agree. And also, I've always thought short selling should be illegal.

If you are so sure a stock is overvalued, then you can buy a put option to buy the shares at the lower price you THINK its going to be in the future. But theres no way you should be able to manipulate a stock price by simply selling a lot of shares you dont even own.

[Marty McGraw]

112. May they Unleash

the wrath of a thousand Buseys at this wretched soul during his stay at the Fed Pokey.

[notadmblnd]

125. It wasn't the first corporation he ran.

he's been accused of running a pyramid scheme and using the money from the corp he ran to pay off investors in other corps he ran. He's out on 5 million bond and his attorney who was also charged with one count of fraud is out on a million bond.

[joshcryer]

21. I'd bet that he wouldn't have been scrutinized were it not for his stupidity.

But because he pulled that idiotic price hike he got on peoples radar. All it takes is one guy in the FBI to be "curious" about past dealings and to dig in to it. If he wasn't in the spotlight odds are he would've just been "another CEO" who ripped off a previous company.

[AllyCat]

28. You've put into words what I imagined happened.

He made it to the public eye and will be easier to prosecute as a sacrificial lamb. The others will walk.

[joshcryer]

29. What he did is SOP for CEOs.

Most of them are shysters when all is said and done.

[elehhhhna]

34. No, this has been developing for a few years iirc

[joshcryer]

37. I saw riversedges' post, interesting.

Maybe the system is working better than I'd suggested, then.

And if he knew about the investigation that might explain the price hike. Get his bills paid to get out of dodge.

[riversedge]

23. A noon ET press conference on the arrest is scheduled at the U.S. Attorney's Office in Brooklyn, N.Y

... The probe, by federal prosecutors in Brooklyn, dates back to at least January when Retrophin said it received a subpoena from prosecutors seeking information about its relationship with Shkreli.

That subpoena also sought information about individuals or entities that had invested in funds previously managed by Shkreli, Retrophin said in a regulatory filing.

A noon ET press conference on the arrest is scheduled at the U.S. Attorney's Office in Brooklyn, N.Y.

[7962]

64. Look back even further and you'll see he's been a scumbag for YEARS

He's lost lawsuits in the past and just kept on doing the same crap.
he owes a LOT of people. It shoudnt have taken this long to grab him. But at least he's finally been charged. Hopefully the feds wont settle for some stupid fine

[SmittynMo]

25. This just made my day

Ya gotta love it when the greedy get theirs!!!

[retrowire]

27. BET

he comes out unscathed.

[Fritz Walter]

31. Schadenfreude

...is the most sublime joy,
because it comes from the heart.

[Coventina]

47. No Schade from me, just freude!!

German isn't my best language so I hope I split those two correctly!


Man oh man would I have loved to see him do the perp walk.......

[MurrayDelph]

65. While I have always said

that one person's schadenfreude is another's poetic justice, there are times when "schadenfreude" is not a sufficient word.

The problem is "taking delight in another's misfortune" could either mean you are enjoying someone getting their just desserts (as is this case), or that the person taking delight is an asshole (such as when my mother overheard Art Linkletter delighting in the California rain washing out tomato farms other than the ones he owned).

So, we have coined the term "deuchenfreude" to mean taking "delight in the suffering of an asshole who really fucking deserved it!"

[BumRushDaShow]

33. NY Times link

http://www.nytimes.com/2015/12/18/business/shkreli-fraud-charges.html

They also arrested his lawyer buddy.

[Ichingcarpenter]

35. Psychopathic CEO and Psychopathic company

Here is the checklist


glib and superficial charm

grandiose (exaggeratedly high) estimation of self


need for stimulation

pathological lying

cunning and manipulativeness

lack of remorse or guilt

shallow affect (superficial emotional responsiveness)

callousness and lack of empathy

parasitic lifestyle

poor behavioral controls

sexual promiscuity

early behavior problems

lack of realistic long-term goals

impulsivity

irresponsibility

failure to accept responsibility for own actions

many short-term marital relationships

juvenile delinquency

revocation of conditional release

criminal versatility

I say he sores pretty high on this checklist



Hare Psychopathy Checklist

Definition

The Hare Psychopathy Checklist-Revised (PCL-R) is a diagnostic tool used to rate a person's psychopathic or antisocial tendencies. People who are psychopathic prey ruthlessly on others using charm, deceit, violence or other methods that allow them to get with they want. The symptoms of psychopathy include: lack of a conscience or sense of guilt, lack of empathy, egocentricity, pathological lying, repeated violations of social norms, disregard for the law, shallow emotions, and a history of victimizing others.

Originally designed to assess people accused or convicted of crimes, the PCL-R consists of a 20-item symptom rating scale that allows qualified examiners to compare a subject's degree of psychopathy with that of a prototypical psychopath. It is accepted by many in the field as the best method for determining the presence and extent of psychopathy in a person.

The Hare checklist is still used to diagnose members of the original population for which it was developed— adult males in prisons, criminal psychiatric hospitals, and awaiting psychiatric evaluations or trial in other correctional and detention facilities. Recent experience suggests that the PCL-R may also be used effectively to diagnose sex offenders as well as female and adolescent offenders.

Purpose

The PCL-R is used for diagnosing psychopathy in individuals for clinical, legal or research purposes. Developed in the early 1990s, the test was originally designed to identify the degree of a person's psychopathic tendencies. Because psychopaths, however, are often repeat offenders who commit sexual assaults or other violent crimes again and again, the PCL-R is now finding use in the courtroom and in institutions as an indicator of the potential risk posed by subjects or prisoners.



Read more: http://www.minddisorders.com/Flu-Inv/Hare-Psychopathy-Checklist.html#ixzz3uaGPiSR2


Don't forget you can't cure a psychopath because
their brain is genetically wired differently



http://www.theatlantic.com/health/archive/2014/01/life-as-a-nonviolent-psychopath/282271/

examples of corporate psychopathic companies

ENRON and most of the executives created a corporation that was psychopathic.

[Ichingcarpenter]

61. Photo of him at the time of his arrest

[PassingFair]

70. He's like a cartoon badguy....

Seems like he can't possibly be real.

[Ichingcarpenter]

78. He is just more apparent and obvious in his psychopathy

than other CEO psychopaths.

Enron's Jeffrey Skilling and media tycoon, Robert Maxwell, are often described as poster boys for successful corporate psychopaths who robbed, lied and cheated their way to success. Also Jimmy Savile was a 'psychopath' but became a Lord and Sir after abusing hundreds.... Hey the queen knighted him so he couldn't be all bad.

If we look a Enron

Jeffery Skilling for example
Had An executive team-building exercise involved a risky motorbike ride on rough terrain in Mexico during which one executive was seriously injured; one of Skilling's closest associates frequently had strippers make office visits (presumably with his blessing), while Skilling himself was publicly abusive to stock traders and low-ranking employees. Most notably, he was seemingly unable to recognise conflicts of interest and breaches of fiduciary duty undertaken by his chief financial officer, approving a series of increasingly far-fetched plans he mistakenly believed would save the company.

He believed himself and other Enron execs to be geniuses, even though hundreds of their ideas failed spectacularly, and occasionally even strayed into criminal territory.


Recognising the office psychopath

The majority of dysfunctional employees are unlikely to be psychopaths, says Dr John Clarke. But if four or more of the criteria below applies to a member of staff, then it might be worth calling in an expert.


Are they prepared to do whatever it takes to get what they want, regardless of how it affects other people?

Have they ever taken credit for work done by someone else?

Do they come across as smooth, polished and charming?

Do they enjoy others being afraid of them?

Are they opportunistic, ruthless, and do they hate to lose and play to win?

Do they consider people they've outsmarted to be dumb or stupid?






Tips for fixing the jerks





And for an interesting interview with this sicko read
his recent interview with HipHopX...........

http://noisey.vice.com/blog/dont-worry-martin-shkreli-has-a-plan-to-bail-bobby-shmurda-out-of-jail


Why psychopaths are bad for buisness

http://www.sott.net/article/248127-Corporate-Psychopaths-Bad-for-Business

[arikara]

143. Politicians too

A great many of them are psychopaths.

[Historic NY]

36. His companies stock dropped 50% immediately...LOL.

http://www.bloomberg.com/news/articles/2015-12-17/kalobios-plunges-50-percent-after-ceo-martin-shkreli-s-arrest

[90-percent]

39. Is Pharma Bro being sacrificed by the PTB's?

Is Pharma Bro being sacrificed by the PTB's in the manner of Bernie Maddoff? That is to say, did Shkreli screw his peer group like Madoff, and thus cast to the SELECTIVE ENFORCEMENT PTB wolves?

Just wondering...Pretty half assed CT on my part, if you ask me...

-90% Jimmy-+-----------------

[BumRushDaShow]

49. The differences are

that this numbskull hadn't been in the business as long as Madoff (who also helped found the NASDAQ and was a billionaire on paper), and Madoff wasn't an attention hoar like this idiot and Madoff's house of cards collapsed on its own. IMHO, he's a small player - hell...he was a Jim Cramer intern!

But agree the PTB had to remove this hot head off the stage... Although it will be interesting to see if he ends up naming names to get out of his bind and what names might pop up that the PTB are really after.

[catbyte]

40. ...

[Lifelong Protester]

89. Couldn't agree with you or Grumpy Cat more!

I wanted to link John Lennon's Instant Karm, but this is good.

[Politicub]

41. Have a holly jolly christmas!

What a POS - I hope they throw the book at him.

[Deuce]

43. Hopefully, they have a solid case and winnable in a short period of time...

[Myrina]

44. Nah, he doesn't need due process ... let him sit there for a month or so ...

.... at least. It IS the holiday season, after all. People need time off work.

[Deuce]

54. It would be nice if he would have to languish in jail over the holidays...

but, he will probably be out before Christmas along with the attorney.

[Nye Bevan]

100. The feds generally know what they're doing.

They have plenty of money and resources at their disposal. They take their sweet time and make sure every base is covered. There is no way they would make an arrest unless they are very sure of their case.

[hueymahl]

45. Schadenfreude never felt so good!

Does it make me a bad person that I have a warm tingly feeling thinking about him being perp-walked to jail?

[City Lights]

46. Haha! Couldn't have happened to a more deserving asshole!

[PatrickforO]

52. That's some poetic justice.

We can hope the charges are very, very serious.

[TwilightGardener]

53. How the hell are you heading up pharmaceutical co's and hedge funds by 32?

Who was so razzle-dazzled by this sociopath that they put him in charge, repeatedly?

[Liberal_in_LA]

75. His success was fake. He was a small time Maddoff

[WillyT]

55. HUGE K & R !!!

[They_Live]

56. This is one of those headlines

that I will never get tired of reading.

[Recursion]

57. Dharma

Actions have consequences. Not hard to see this one coming...

[MowCowWhoHow III]

58. Merry Christmas shit-head!

[frizzled]

59. This sucks. He was fantastic at debunking the notion we don't need regulation.

Can we set up a Kickstarter to keep him out of jail and keep goading the general public into taking the finance sector behind the woodshed?

[7962]

63. I'd fund a kickstarter to kick his ass

[jmowreader]

137. That's an Asskickstarter. There's a difference.

[7962]

140. Ahhh

[jmowreader]

142. And in this case, an Asskickstarter wouldn't be all that expensive

[Raster]

155. No, that's kickassstarter

...And I'll gladly chip in!

[roomtomove]

66. What about other crooked hedge fund managers?

No one likes this guy, but why single out just one crook?

[Nye Bevan]

67. There are others who have been arrested and convicted.

https://en.wikipedia.org/wiki/Raj_Rajaratnam

If you have any knowledge of any hedge fund managers being crooked you should contact the authorities.

[iandhr]

96. Hedge Funders are small enough to fail.

So they are small enough to jai.

[hamsterjill]

68. Well this made MY day!!

I'm sure the asshole will come out smelling like a rose because he can afford any and all well-known attorneys, pay off who needs paying off, etc.

But for the moment, this headline just absolutely MADE my day. Could NOT happen to anyone more deserving than this creep!

[TIME TO PANIC]

69. Ha Ha!

[Liberal_in_LA]

72. Picture after arrest. Exiting court

[7962]

95. Oh, no smug look on THAT face for a change!!!!

[Nye Bevan]

101. I always felt like I wanted to slap that smug face.

(not that I ever would as I abhor violence).

But this is better.

[7962]

145. I wanted SOMEONE to do far worse.........

[Liberal_in_LA]

74. Shkreli drove fund from $3 million to $331. Used clients money to pay his living expenses. He is a M

Authorities outlined years of investment losses and lies Shkreli allegedly told his investors almost from the moment he began managing money. By age 26, they said, he got nine investors to place $3 million with him, began losing their money and covering it up. Within a year, his fund's account was down to $331.

Shkreli attracted another $2.35 million investment in 2010 and lost about half of that in two months, the authorities said. As the hole grew, he covered it up with scheme after scheme, telling investors that his returns were as high as 35.8 percent when he was down 18 percent. He used client money to pay for his clothing, food and medical expenses and lied to the broker handling his fund's accounts, authorities said.

http://www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/

[Liberal_in_LA]

76. Jerk!

In fact, it is not only his drug pricing that has turned him into an object of public derision. He recently spent millions on the only copy of a Wu-Tang Clan album that music fans would love to hear and then told Bloomberg Businessweek that he had no immediate plans to listen to it. He spars often on Twitter and message boards, parading his business strategies, musical tastes and politics; he live-streams from his office for long stretches.

http://www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/

[Geronimoe]

77. This is one guy. I'd love to see

working for 70 cents a day doing prisoner contract work.

[hunter]

79. Silly boy. Even in the High Society of Soulless Wealthy Pricks, there are rules to follow.

One of them is "Don't embarrass or inconvenience your fellow Soulless Wealthy Pricks."

[allan01]

81. indeed

[NastyRiffraff]

83. Shadenfreud never felt so good!

Not smirking much now, eh, asshole? Here's hoping he goes to prison.

[clif]

84. buy out

One of the few things you can still count on in this country is " you can get the justice you can afford"
He will walk simply due to the amount of cash he can spend.

[CharlotteVale]

85. He only got arrested because he defrauded other obscenely rich people.

That's the only thing obscenely rich, evil people get arrested for.

But at least he got arrested for something, even though it's still perfectly legal for him to charge obscene amounts for a life-saving drug. When that becomes illegal - then I'll celebrate. But I'm not holding my breath.

[7962]

97. Actually he defrauded a lot of "regular' folks like you & me.

Anyone could have been buying that stock after his announcement that he wasnt selling.
Matter of fact, the richer investors were LESS likely to be buying because they would know his history of lying and look at more than just a tweet.
But he's made so much money just by tweeting a good or bad comment, thats what he's kept doing. I guess he figured he could do it forever

[CharlotteVale]

104. The rich screwing over the non-rich is business as usual.

[valerief]

106. Yep, if he'd stolen from the poor, he'd be a "smart businessman." nt

[Turbineguy]

86. Me haz

no sad.

Here's to something slightly unpleasant happening to him in the cooler

[TygrBright]

87. Delicious. I like to fantasize that the Fibs are going to cut a deal with him...

...to rat out all his buds, both among the hedge fund weasels and in the Big Pharma board rooms.

He has *plenty* of dirt on all of them, I'm sure, and he's just the kind of me-firster who'll sell it to save his own sorry ass from doing hard time.

And, sleaze level aside, he's a very small bit of scum in those ponds.

Would be nice if the Fibs started going after the bigger fry.

interestedly.
Bright

[Gene Debs]

88. I wish it were otherwise, but

all the people who are gloating about Shkreli's arrest make me laugh. Honestly, when was the last time a Wall Street asshole ever paid any real consequence for their misdeeds? If you think there's anything worse in store for Shkreli than being inconvenienced for a few afternoons, I have a one-off Wu Tang album to sell you. On the other hand, this might be the one case of the person who made himself so toxically hateable that no one will really be willing to lift a finger to help him out. One can hope.

[7962]

98. I considered posting something similar, but its a bit risky!!!!

be careful!!!

[yurbud]

105. I didn't WISH it to happen on him

out loud

[Spitfire of ATJ]

92. I can picture CNBC claiming he was only targeted because of the media attention.

[47of74]

99. That moment.....

[Liberal_in_LA]

103. Lol

[Glimmer of Hope]

110. He could get up to 20 years in prison. Oh my!

[Hal Bent]

111. Hey! Marty!

Try that smug facial expression of yours on your cellmate!

[rocktivity]

114. A criminal lawyer representing...Martin Shkreli...announced that he was hiking his fees

from twelve hundred dollars an hour to sixty thousand dollars.

Shkreli, who reportedly received the news about the price hike while he was being fingerprinted, cried foul and accused his attorney of “outrageous and inhumane price gouging...This is the behavior of a sociopath,” (he) was heard screaming...

Shkreli’s lawyer was unmoved by his client’s complaint. “Compared to what he pays for an hour of Wu-Tang Clan, sixty thou is a bargain,” he said.

http://www.newyorker.com/humor/borowitz-report/lawyer-for-martin-shkreli-hikes-fees-five-thousand-per-cent


rocktivity

[Nye Bevan]

115. LOL.

Borowitz is one of the very few Onion competitors that is actually good.

[DonCoquixote]

121. yay!

The angel on my right shoulder is telling me not to make prison jokes, but the devil on my left says "he is the sort that would try to throw you in jail if you stole a pill you needed to live."

All the same, no jokes, but I do want to see this guy made an example of to the fullest extent of the law, law key term. Time to sell your Wu Tang album Martin.

[LS_Editor]

123. Good.

[47of74]

124. Here's the indictment of that little douchenozzel and one of his buddies

http://www.nytimes.com/interactive/2015/12/17/business/document-indictment-charges-shkreli-with-security-fraud.html

[Nye Bevan]

127. "The defendant MARTIN SHKRELI (hereinafter referred to as DOUCHENOZZLE)....."

Well not really, but an interesting read anyway.

[MADem]

129. What a lovely holiday gift that is!!!! That smirking shit!!! nt

[Ivan Kaputski]

132. Excellent.

[DebbieCDC]

134. Welcome to the lockup

[Judi Lynn]

135. Thank you for posting this good news. n/t

[suffragette]

136. Payday Shkreli!

Just not the one he had envisioned.

Time to pay up for the fraud and lying.

[Dont call me Shirley]

138. Good! Fuck that arrogant sociopath!

[cindyperry]

139. Good

bastard deserves to be horsewhipped

[PersonNumber503602]

141. Did he recently bring this onto himself thanks to his recent greedy move?

Obviously he brought it onto himself when he decided to commit whatever crime it was that he committed, but did they look into him more because of recent acts? If so HAHAHAHA.

[Curmudgeoness]

144. This should have a thousand recs.

Best news I have heard all day.

Now, I will wait to rejoice further until he is in prison.

[Helen Borg]

146. So satisfying...

Imagine how it would be if the same happened to Cheney, Rumsfeld, the entire bunch of war criminals?...

[marble falls]

147. I hope he only the first of a bunch of them. I've been affected by a simular situation with...

a drug used to treat Tuberculosis all around the world that has been 90% effective when used in an infusion to cure bladder cancer. The price went up hugely and VA now has to ration it. It isn't because of the increased number of users: there are more people with Tuberculosis than with Bladder Cancer and in France it is mandated that all newborns get it as tuberculosis prevention - its because there's more money in treating Cancer than in Tuberculosis, a disease mostly of the poor.

[Kablooie]

149. Just watch as he gets off scott free.

Hell, he's a rich CEO.
The most extreme thing would be him sent to live at a country club prison for a few months.
Most likely he will be found innocent or given a mild warning and set free.

Don't expect any kind of justice for this kind of asshole.
They have a huge stock of Get Out of Jail Free cards in reserve.

[47of74]

150. Along with the help of some Democratic politicans who think we need to look forward only...

...and not backwards because it wouldn't be right to look at the evil people have done and hold them accountable for it. There are plenty of conservadems who think that because they think that sucking up to the rich will get them votes.

[Aerows]

154. He's a jerk. n/t