A Simple Explanation of Why the Fbi Arrested Martin Shkreli
Martin Shkreli, "most hated man in America" for drug price hikes, was arrested on Dec. 17. His hedge fund company, MSMB Capital Management, was doing poorly, so he allegedly took stocks illegally from his former company, Retrophin, to pay off those debts. Below is his story told through the history of his companies. http://bit.ly/1QvW2vh
- 1.Shkreli's struggling hedgefund: MSMB Capital ManagementShkreli founded this company in 2009. The company lost $11 million in 2011.
- 2.Company that pushed him out: RetrophinShkreli founded this company in 2011, and served as CEO until September 2014.
- 3.Why people think he's an ass: Turing pharmaceuticalsShkreli founded this company in 2015. He bought up a Malaria drug called Daraprim and raised the price from $13.50 to $750.
- 4.The other company he bought: KaloBiosA Shkreli-led group bought this company in November 2015. This move made people fear that he'd jack up the prices for a Chagas disease drug.