Martin Shkreli, CEO of Turing Pharmaceuticals, Arrested on Securities Fraud Charges

[I Push Buttons]

That CEO everyone hated a few months ago for raising the price of a lifesaving drug by 5000% was arrested by FBI/SEC agents alleging that he perpetrated what was essentially a Ponzi Scheme from 2009-2014. The US SEC apparently instigated a probe when past firms Shkreli worked for came forward; he allegedly used investor money to cover personal expenses and pay back previous failed investments. He had losses and misappropriations to the tune of millions of dollars.

LINK to US Securities and Exchange Commission press release.

I guess the moral of the story is, if you are party to a massive criminal conspiracy, don't go around making enemies with everyone in the country and brag about investments that failed and money that wasn't there :P

According to NPR, the SEC has requested a jury trial... Do you think this guy can possibly get a fair trial?

[ati87]

They will settle out of court, he will pay a bit of money and maybe 1 year jail time.

http://www.motherjones.com/mojo/2015...y-coal-verdict
http://www.wsj.com/articles/ex-masse...nts-1449164466

The actions of this guy killed 29 people and he only got 1 year jail time...

[Chain Chungus]

They just need to make sure his fellow inmates understand exactly who he is.

[negawonka]

They just need to make sure his fellow inmates understand exactly who he is.

I think you overestimate how much inmates care if a person is guilty of fraud or even involuntary manslaughter. What he did was bad, but most of them did bad things too. He didn't quite do something despicable like doing things with children.

[Deleted]

Didn't Hillary say she'd go after him? I'm sure there's not going to be a settlement, they are out for blood.

[Spraxle]

I think you overestimate how much inmates care if a person is guilty of fraud or even involuntary manslaughter. What he did was bad, but most of them did bad things too. He didn't quite do something despicable like doing things with children.

Well maybe he kept a child from getting medicine. That's like killing the child yourself if you made the decision that resulted in its death. Eh I wouldn't kid myself though. He won't ever see the inside of a jail. Or pay any money. He'll get slapped on the wrist and told he was bad and not to do it again, but he'll be back at in a few months after all that.

[Elegiac]

I think you overestimate how much inmates care if a person is guilty of fraud or even involuntary manslaughter. What he did was bad, but most of them did bad things too. He didn't quite do something despicable like doing things with children.

If nothing else his attitude would attract considerable ire.

[Zandalarian Paladin]

This made my day. May he rot in prison for a long, long time.

[WinterKnight]

I think you overestimate how much inmates care if a person is guilty of fraud or even involuntary manslaughter. What he did was bad, but most of them did bad things too. He didn't quite do something despicable like doing things with children.

Inmates have families outside of prison. All it takes is a couple of guys who've had a parent, a sibling, a kid, or even a buddy with cancer to make it personal for them, like how pedophiles get treated in prison because inmates have kids, nieces, nephews, etc.

[Cthulhu 2020]

If nothing else his attitude would attract considerable ire.

He'll more than likely be released for an insignificant bail. You know how our justice system works. Poor man steals $50 from a store, goes to jail for 50 years. Millionaire frauds people out of millions, pays a paltry sum and walks free.

[Crissi]

He'll more than likely be released for an insignificant bail. You know how our justice system works. Poor man steals $50 from a store, goes to jail for 50 years. Millionaire frauds people out of millions, pays a paltry sum and walks free.

Considering the affluenza kid disappeared and is most likely out of the country (according to my county sheriff), I think they won't let this CEO off light, just to deter fleeing

And pretty sure Madoff is in jail for life. I know Texas sent a Madoff- copy cat to jail also

[Xisa]

He'll more than likely be released for an insignificant bail. You know how our justice system works. Poor man steals $50 from a store, goes to jail for 50 years. Millionaire frauds people out of millions, pays a paltry sum and walks free.

This guy broke the wealth code by

A) Flashing his money like a retard
B) Making a National debate on the practices of the Pharmaceutical industry
C) Getting caught in a Ponzi scheme.

No, he'll go away for a while. Old money doesn't like young new money.

[Cthulhu 2020]

Considering the affluenza kid disappeared and is most likely out of the country (according to my county sheriff), I think they won't let this CEO off light, just to deter fleeing

And pretty sure Madoff is in jail for life. I know Texas sent a Madoff- copy cat to jail also

True enough. I'm still not gonna hold my breath that he gets a proper sentence though.

[Teebone]

CNN Link

http://money.cnn.com/2015/12/17/news...rts/index.html

I hope they throw the book at this piece of shit.

[Cthulhu 2020]

This guy broke the wealth code by

A) Flashing his money like a retard
B) Making a National debate on the practices of the Pharmaceutical industry
C) Getting caught in a Ponzi scheme.

No, he'll go away for a while. Old money doesn't like young new money.

Ohhhh those are the rules. Cool. Yeah his stunt with the pharma prices probably looked stupid even to the greediest of tycoons.

[Independent voter]

[Crissi]

Madoff got time because he stole from the wrong people. Not because he "stole".

This guy will never see a cell. Especially if he makes a "donation" to something.

This kid also pissed off other business execs and the old money crowd. Trust me, he's getting his, because old money is where the power is

[Glnger]

who would have thought that this sack of shit lacked any morals or ethics

[willtron]

look at his little rat face. It fills me with glee to see justice done.

[Crissi]

That's what I said above, yes. The only way this guy sees a cell is if he pissed off someone higher up the ladder.

And he pretty much has, if the articles I read are any indication. One does not simply being too much attention to How an industry works...

Basically , don't rock the boat