Tag: Martin Shrkeli Fraud

Martin Shrkeli has spoken on those fraud charges
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Martin Shrkeli has spoken on those fraud charges

Martin Shrkeli is on trial for fraud charges on Wall Street, and now, Martin Shrkeli has told the world just how he feels about those charges. According to tweets posted by Shrkeli,  the betrothed pharma exec apparently feels that the accusations are "baseless" and he will "prevail" even in federal court. More information about some of the charges has since been released to the media. Per New York officials,  Shrkeli is charged with fraud and conspiracy to commit fraud from 2009 all the way until 2014. Per Brooklyn court officials, Shrkeli "used a pharma company he acquired to pay back disgruntled hedge fund bosses" that he had pissed off after losing copious amounts of their money in bad trades.  
Feds raid Martin Shrkeli ‘s office, drug CEO resigns
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Feds raid Martin Shrkeli ‘s office, drug CEO resigns

All's well that ends well, er, especially when you're one particular internet villain that nobody truly cares for. Earlier this week, Martin Shrkeli, the infamous Turing CEO who notoriously hikes prices of life-saving drugs was arrested. But unfortunately not for reportedly hiking prices, but, for something much worse. Several reports have uncovered a SEC securities case against Shrkeli in which he is accused of "running a Ponzi scheme" through hedge funds which eventually led into his foray into medicine. According to officials, Shrkeli, is looking at a hefty 20 years if convicted on securities fraud.  As of this writing, it appears that Turing has reportedly hired a new CEO to replace Shrkeli.
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