Congress Subpoenas Martin Shkreli Over Drug Prices

[Eugene]

Source: New York Times

Martin Shkreli loves to talk.

Whether it be on Twitter, in online streaming videos or in interviews with the news media, Mr. Shkreli, a New York businessman, has shown little reserve when it comes to discussing the pending federal securities fraud charges against him, or his rationale for increasing the price of a decades-old drug by more than 5,000 percent at a pharmaceutical company he ran until last month.

On Tuesday, Mr. Shkreli, 32, will get his chance to talk some more. A congressional committee has served a subpoena on him and ordered him to appear for a hearing to discuss pricing trends and other developments in the drug industry, according to documents reviewed by The New York Times.

The subpoena directing Mr. Shkreli to appear before the House Committee on Oversight and Government Reform was served by email to one of his lawyers at Arnold & Porter on Jan. 11.

Also scheduled to testify at the hearing are Howard B. Schiller, the interim chief executive officer of Valeant Pharmaceuticals, and Nancy Retzlaff, chief commercial officer of Turing Pharmaceuticals, the drug company that Mr. Shkreli formerly ran.

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Read more: http://www.nytimes.com/2016/01/21/business/dealbook/congress-subpoenas-martin-shkreli-over-drug-prices.html

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By MATTHEW GOLDSTEIN JAN. 20, 2016

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Reuters ticker: Martin Shkreli says on Twitter he hasn't yet decided whether to appear before Congress

[forest444]

1. The SEC should investigate him for money laundering while they're at it.

I'm almost certain that the proceeds that magically appeared out of nowhere to fund his pharma buying spree originated in money laundering.

An estimated $1.5 trillion in U.S. assets are believed to be controlled by money laundering outfits.

[eggplant]

2. "Hasn't yet decided..."

Please proceed, asshole.

[PADemD]

3. Developments in the Prescription Drug Market: Oversight

Full House Committee on Oversight and Government Reform
Hearing Date: January 26, 2016 2:00 pm 2154 Rayburn House Office Building

https://oversight.house.gov/hearing/developments-in-the-prescription-drug-market-oversight/

[Eugene]

4. Drug exec Shkreli will not answer questions at hearing: letter

Source: Reuters

Business News | Thu Jan 21, 2016 3:22pm EST

Drug exec Shkreli will not answer questions at hearing: letter

NEW YORK | BY NATE RAYMOND AND DAVID INGRAM

Former drug executive Martin Shkreli plans to assert his right against self-incrimination and remain silent if he is forced to appear next week at a congressional hearing about drug prices, according to a letter seen by Reuters.

Shkreli's lawyer informed the U.S. House Committee on Oversight and Government Reform of his intent not to answer questions and asked that Shkreli be excused from appearing, committee chairman Jason Chaffetz wrote in the letter dated Wednesday to his lawyer, Baruch Weiss.

Shkreli, who created a fire storm last year after raising the price of Daraprim, a life-saving medicine by more than 5,000 percent, is also facing federal criminal charges that he defrauded investors.

Chaffetz, a Utah Republican, wrote to Weiss that Shkreli could face criminal prosecution for contempt if he fails to appear at the hearing, scheduled for Tuesday. "Mr. Shkreli is uniquely qualified to answer questions about rising prescription drug prices," Chaffetz wrote.

Shkreli told lawmakers on Twitter on Thursday: "Your attempt to subvert my constitutional right to the 5th amendment are disgusting & insulting to all Americans."

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Read more: http://www.reuters.com/article/us-usa-crime-shkreli-idUSKCN0UZ2O3