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Thursday, December 17, 2015

Turing Pharma CEO Martin Shkreli defrauded investors with 'a web of lies,' prosecutor says

#Shkreli‬ ‪#‎karma‬ "...there's no doubt: it is really nice to see Martin Shkreli get screwed in this way. But it also shows that these super rich business types really don't know much. He was very public with this move — confident in the knowledge that there was nothing that anyone could do. He showed a shocking lack of sophistication when it came to PR. But in the end, he didn't seem to know that this was a drug that a compounding business could put on the market — not only undercutting him in price but showing him to be a fraud." -- FranklyCurious.com

A seven-count indictment unsealed in Brooklyn Federal Court charged Shkreli with:
Turing Pharma CEO Martin Shkreli defrauded investors with 'a web of lies,' prosecutor says
* Conspiracy to commit securities fraud.
* Conspiracy to commit wire fraud.
* Securities fraud.

Who's got the smug smile now?

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