Friday, June 23, 2017

Pharma Boy Martin Shkreli Prepares Himself For Trial By Live Streaming Himself Playing Video Games

Robert Donachie Finance and Health Care Reporter
10:28 AM 06/23/2017

Martin Shkreli, former hedge fund manager and Turing Pharmaceuticals CEO, live-streamed himself playing video games, petting his cat and drinking soda Monday evening after leaving a federal pre-trial court hearing.

The “pharma bro” spent hours live-streaming himself as he played League of Legends, fiddled with Excel charts mapping out the trends of pharmaceutical stocks and doing other rather mundane tasks Monday night, The New York Times reported Thursday. Shkreli is currently under federal investigation for eight counts of securities and wire fraud.

The charges against Shkreli stem from two of his former hedge funds: MSMB Capital Management and MSMB Healthcare and Retrophin. The former CEO is accused of looting Retrophin out of nearly $11 million, which he used to pay off investors in MSMB that he had reportedly frauded. Shkreli allegedly lied to the investors in MSMB about the funds’ overall performance, the number of investors in the fund and the salary he drew from MSMB.

The pharmaceutical became a household name in 2016 when he raised the price of Daraprim, a drug used to treat parasitic infections, from $13.50 to $750 a tablet. Shkreli faced a congressional hearing for the matter, along with a slew of negative press coverage. 

Thank You Mr Donachie and DC.

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