Turing ceo arrested
December 21, 2015
former hedge fund manager
and pharmaceutical-company
Turing Pharmaceuticals ceo Martin
Shkreli, infamous for raising the
price of an essential pharmaceutical
therapy fifty five fold, has been
arrested and charged in an
indictment unconnected to the
drug price hikes scandal, according
to a report in Modern Healthcare.
The charges instead involve his
actions at another pharmaceutical
company, Retrophin, which he
reportedly ran as ceo up until last
year.
The 32-year-old entrepreneur
claimed the fraud allegations
against him are “baseless and
without merit”, pleading not guilty
in the Brooklyn federal court with
the judge setting bail at US$5m.
If found guilty Shkreli could find
himself peering through vertical
iron bars for up to 20 years, the
report said.
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