Price-Gouging Pharma CEO Under Investigation for Insider Trading and Fraud
http://usuncut.com/class-war/pharma-ceo-jacked-aids-drug-price-5500-sued-fraud-stalking-looting/
Executive chairman of Turing Pharmaceuticals and possible sociopath Martin Shkreli made himself a lightning rod of hate when he recently decided to raise the price of Daraprim – a 62-year-old drug used in AIDS, chemo treatments, and certain infant infections – from $13.50 to $750 per pill in a single day.
The 32-year-old pharma CEO has shown a pattern of this kind of behavior, and has and is being taken to court for his unscrupulous dealings.
Shkreli founded a biotech company called Retrophin in 2011, but he was “unceremoniously dumped” on Sep 30, 2014 when it became clear he had “committed stock-trading irregularities and other violations of securities rules.” He had been giving away stock to friends and business contacts to square debts and salvage his failing investment firm founded in 2009, MSMB Capital Management.
Last month, Retrophin sued Shkreli for $65 million in damages for these actions, claiming he essentially turned Retrophin into his own private checking account, pulling down $3 million in personal assets even as he dismantled the company from within and pressured others to buy in.