Remember Martin Shkreli? He was the drug company entrepreneur who inflated the price of a life-saving HIV drug Daraprim in September.
Shkreli increased the price of the drug Daraprim to a massive $750 per pill from a previous $13.50.
Well according to Bloomberg, he was arrested at his Manhattan home by FBI agents earlier this morning on securities fraud charges related to a firm he founded.
Bloomberg reports: “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 is alleged to have made secret payoffs and sham consulting arrangements after his hedge fund lost millions of dollars.
Shkreli’s lawyers have yet to make any comment on the case.
