![Martin Shkreli Arrested for Fraud](http://townsquare.media/site/757/files/2015/12/Martin-Shkreli-arrested.jpg?w=630&h=420&zc=1&s=0&a=t&q=89&w=980&q=75)
Martin Shkreli Arrested for Fraud
Martin Shkreli, the man who attained nationwide infamy by purchasing the rights to an AIDS-treatment drug and increasing the price from $13.50 to $750 per pill overnight, was arrested at his Manhattan apartment early Thursday morning.
Shkreli, currently the CEO of Turing Pharaceuticals, was charged with securities fraud dating to when he had previously run a hedge fund called MSMB Capital Management and another pharmaceutical firm, Retrophin. He was arrested in Midtown by the FBI, among other law enforcement.
The arrest was not in connection with his company's notorious purchase of Daraprim, a pill often used by HIV-positive patients. Shkreli defended his decision to raise the price of the 62-year-old drug by more than 5000 percent, even saying that he wished he'd raised it more. “I probably would have raised the price higher” if he could do it over again, he said. “My investors expect me to maximize profits.”
Also arrested was Evan L. Greebel, formerly a lawyer with Shkreli at Retrophin, on charges of wire fraud and assisting Shkreli. The two were indicted in Brooklyn by federal prosecutors who are scheduled to hold a press conference announcing the charges at noon (EST) on Thursday. The basic scheme they are accusing Shkreli of is illegally using funds from Retrophin to pay back investors when his hedge fund collapsed in 2011.
Shkreli, the 32-year-old whom many have called the "most hated man in America" or "world's worst human," has not yet released a statement. Twitter and other social media have largely rejoiced at the news.
More From News Talk 96.5 KPEL
![Donald Trump Has Made His Vice Presidential Pick](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2159730000.jpg?w=980&q=75)
![Man Wins $100,000 With Lottery Strategy From Watching ‘Lottery Changed My Life’](http://townsquare.media/site/33/files/2022/04/attachment-giorgio-trovato-BRl69uNXr7g-unsplash.jpg?w=980&q=75)
![Louisiana to be Prominently Featured at Republican National Convention](http://townsquare.media/site/36/files/2024/07/attachment-RNC-LOGO.jpg?w=980&q=75)
![What We Know About the 20-Year-Old Man Who Tried to Assassinate Donald Trump](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2161922154.jpg?w=980&q=75)
![Local Officer Encountered Gunman Just Before He Shot Toward Trump at Rally](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2161922387.jpg?w=980&q=75)
![Man Killed at Trump Rally Identified as Former Fire Chief, ‘Girl Dad’ who ‘Died a Hero’](http://townsquare.media/site/36/files/2024/07/attachment-Untitled-design-2024-07-14T144115.615.jpg?w=980&q=75)
![UPDATE: Trump Safe, Shooter Neutralized After Shots Fired at Rally](http://townsquare.media/site/36/files/2024/07/attachment-Shooting-Trump-Rally-Pennsylvania.jpg?w=980&q=75)
![Did Authorities Spot the Loch Ness Monster On a Texas Highway?](http://townsquare.media/site/36/files/2024/07/attachment-Screen-Shot-2024-07-09-at-8.07.05-AM.jpg?w=980&q=75)
![‘Birds Aren’t Real’ Movement Claim Birds Are a Government Conspiracy](http://townsquare.media/site/33/files/2021/06/attachment-Birds-Arent-Real-2.jpg?w=980&q=75)