Martin Shkreli, the detested CEO of Turning Pharma, is getting what many think he deserves after jacking up the price of a life-saving AIDS medication. The FBI arrested Martin on Dec. 17, charging the young millionaire with multiple counts of securities fraud!
An early Christmas present arrived to all those who hate Martin Shkreli. Karma might have caught up with 32-year-old CEO, known for skyrocketing the price of an essential drug for AIDS patients, hoarding a rare Wu Tang Clan album and for inviting Taylor Swift, 26, to “s*ck his d*ck.” Martin was busted for — surprise, surprise — lies over his corporate greed!
Martin and his attorney, Evan Greebel, were taken into FBI custody after an investigation found possible evidence of securities fraud, reports Bloomberg news. From 2009 to 2012, Martin allegedly defrauded investors of his hedge fund and misrepresented the fund’s assets, liabilities and performance. He is also accused of illegally taking stock and funds from Retrophin Inc, a biotech firm he founded, to pay off the hedge fund’s debts, reports the Daily News.
Authorities told Bloomberg that the scam began around 2009, when Martin got nine people to pony up $3 million for his hedge fund. Within a year of investing, he was down to just $331. Martin tried to hide his failure, allegedly conning more investors to give $2.35 million in 2010. He reportedly lost half of it within two months. When the Securities and Exchange Commission began investigating Martin’s “complicated money shell game” in 2012, reports Bloomberg, he tried to cover up his tracks. Apparently, he’s as good as hiding his crimes as he is at investing money.
Martin became the guy most people wanted to punch after he, as the head of Turning Pharma, bought the rights to the drug, Daraprim. The drug is used to treat life-threatening parasitic infections, reports Daily Mail. It has become an essential medication for AIDS and cancer patients, and only costs $1, per pill, to make. Martin decided to raise the drug’s price from $13.50 to $750, earning him his hated reputation. So, not many tears were shed when news broke of his arrest. In fact, everyone rejoiced!
Martin Shkreli's bail was going to be set at $500,000 but they raised it to $27,500,000 just for him.
— Kelsey D. Atherton (@AthertonKD) December 17, 2015
hahahahaha suck it, martin shkreli
— holly jolly bridgmas (@bkdubin) December 17, 2015
Waking up to good news is the best. Especially when it's the fact that Martin Shkreli got arrested
— Annie Donegan (@WILD_ANnIeMAL) December 17, 2015
If he wasn’t despised enough, Martin revealed he was the one who spent $2 million dollars to buy the one-of-a-kind Wu Tang Clan album, Once Upon A Time In Shaolin. When asked if he was going to play it, he told HipHopDX he wouldn’t “play it for no reason” before saying “If Taylor Swift wants to come over to s*ck my d*ck, I’ll play it for her.”
How utterly charming. It’s amazing he’s so hated after statements like that. However, Martin will have to keep that kind of friendship-making skills in mind if he ends up going to jail.
What are your thoughts about Martin’s arrest, HollywoodLifers? Leave your opinions below.