MARTIN SHKRELI HAS BEEN ARRESTED FOR SECURITIES
FRAUD, AND IT LOOKS LIKE THE EVIDENCE AGAINST HIM IS
LIKELY TO GET HIM CONVICTED.
NOT ONLY IS HE LOOKING INTO SOME JAIL TIME, BUT HE IS UNLIKELY TO
EVER BECOME THE CEO OF ANY OTHER
COMPANY AGAIN.
HE IS INVOLVED IN A LONG, COMPLICATED LIST OF
WRONGDOINGS, SO LET ME TELL YOU WHAT THEY ARE.
"PROSECUTORS IN BROOKLYN CHARGED HIM WITH ILLEGALLY TAKING
ASSETS FROM RETROPHIN INC.,
A BIOTECHNOLOGY FIRM HE STARTED IN 2011, AND USING IT TO
PAY DEBTS FROM UNRELATED BUSINESS DEALINGS.
HE HAD BEEN CHIEF
EXECUTIVE OFFICER OF THE COMPANY, AND HE IS BEING
SUED BY ITS BOARD."
HE WOULD LIE TO THE INVESTORS AND TALK ABOUT HOW
HIGHLY PROFITABLE HIS COMPANY
WAS, WHEN IN REALITY IT WAS IN THE RED.
"HE IS ALLEGED TO HAVE MADE SECRET PAYOFFS AND SET UP
SHAM CONSULTING ARRANGEMENTS.
IN NEW YORK LAWYER, EVAN GREEBERG, WAS ALSO
ARRESTED EARLY THURSDAY.
HE IS ACCUSED OF CONSPIRING IN THIS SCHEME."
QUITE THE THING THAT GOT HIM IN TROUBLE WITH THE PUBLIC,
THE PRICE HIKE ON THE PILLS, IS NOT THE ISSUE HERE.
HE SAID HE WAS GOING TO TAKE THE PRICE DOWN, AND HE DID
NOT, AND AT A SUMMIT LAST MONTH HE SAID HE PROBABLY WOULD HAVE
MADE THE PRICE HIGHER BECAUSE HIS INVESTORS EXPECT HIM TO
MAXIMIZE PROFITS.
THE THING IS, HE IS RIGHT.
THERE ARE TWO DIFFERENT CLASSES OF PEOPLE WHO HATE HIM. US, THE
PEOPLE WHO FEEL THE IMPACT OF THE GREEDY PHARMACEUTICAL
COMPANIES, AND THEN THE GREEDY
PHARMACEUTICAL COMPANIES WHETHER DOING THE SAME THING FOR A
LONG TIME, BUT THEY MANAGED TO TOE THE LINE SO THEY NEVER
GOT IN THE HEADLINES.
HE GOT ALL OF THESE STORIES IN THE HEADLINES, AND SO NOW
ALL OF THESE GREEDY PHARMACEUTICAL COMPANIES
ARE LIKE, TAKE HIM DOWN.
HE IS A PERFECT TARGET FOR FEDERAL PROSECUTORS.
HE IS NOT A HEAVY POLITICAL CONTRIBUTOR, HE IS NOT WITH
A LARGE COMPANY THAT WOULD GET YOU IN TROUBLE IF YOU WENT
AFTER HIM.
HE WAS A LONE WOLF.
HE IS BRINGING UNWANTED ATTENTION TO COMPANIES THAT
DO GIVE POLITICAL DONATIONS.
AND HE IS PROBABLY GUILTY, AND HE GETS A
LOT OF PRESS ATTENTION.
SO NOW THEY CAN SAY THEY GOT THE REAL BAD GUYS.
I AM GLAD THAT THEY ARE GOING AFTER HIM, BY ALL MEANS THEY
SHOULD ARREST THEM, I JUST WISH THEY WOULD HAVE THE SAME
STANDARDS FOR EVERYONE ELSE.
THERE IS A TWIST TO THE STORY, HIS LAWYER CALLED HIM
AFTER HE GOT ARRESTED TO LET HIM KNOW THAT HE IS INCREASING
HIS HOURLY RATE BY 5000 PERCENT.
NO!
YES.
THAT IS AWESOME, THAT IS THE KIND OF IRONY I CAN ENJOY.
TO BE FAIR, HE HAS TO DO A TRIAL, TRIALS ARE HARDER.
MARTIN SHKRELI RAISE THE PRICE OF THE PILLS BECAUSE PEOPLE NEED
THEM TO LIVE.
YOU NEED YOUR LAWYER FOR YOUR FREEDOM, SO HE HAS GOT YOU BY THE BALLS.
I'M SURPRISED THAT THE LAWYER WOULD ACTUALLY DO THAT, BUT I
LIKE THE STORY.
IT WAS CONFIRMED BY THE LAWYER TO THE PRESS.
HE WAS CHARGING $1200 AN HOUR, BUT NOW HE IS UP TO $6000, $7000
AN HOUR.
SO IT IS FIVE TIMES AS MUCH.
BASICALLY HE IS DOING THE SAME THING THAT MARTIN SHKRELI
DID WITH THE DRUG PRICE INCREASE.
"AUTHORITIES OUTLINED YEARS OF INVESTMENT LOSSES AND LIES
HE ALLEGEDLY TOLD INVESTORS ALMOST FROM THE MOMENT HE
BEGAN MANAGING MONEY.
BY AGE 26, THEY SAID, HE GOT NINE INVESTORS TO INVEST $3
MILLION, AND HE TURNED IT INTO $300."
HE FUCKED UP, HE GOT RICH PEOPLE ANGRY.
THIS GUY WAS BEGGING FOR A PROSECUTION.
YOU HAVE NO BIG COMPANY BEHIND YOU AND YOU PISS OFF RICH
PEOPLE?
THAT IS THE ONE TIME THE PROSECUTORS ARE GOING TO BE ALL
OVER YOUR ASS. AND THEY SHOULD BE.
ITíS ONE THING TO JUST LOSE MONEY, MAYBE HE IS THE WORLD'S
WORST INVESTOR.
WHEN YOU TRY TO COVER IT UP AND PLAY FINANCIAL GAMES, NOW
YOU HAVE STEPPED IN IT BECAUSE THAT IS ILLEGAL.