Livestreaming, rap-fan CEO faces charges
Pharma's bad boy: Livestreaming, rap-fan CEO faces charges
Martin Shkreli leaves the courthouse after his arraignment in New York, Thursday, Dec. 17, 2015. Shkreli, the former hedge fund manager vilified in nearly every corner of America for buying a pharmaceutical company and jacking up the price of a life-saving drug more than fiftyfold, was arrested Thursday on securities fraud charges unrelated to the furor.
NEW YORK — He's the enfant terrible of pharmaceuticals, a 32-year-old CEO who unapologetically raised the price of the only approved drug for a rare disease from $13.50 to $750 per pill.
He's a millionaire music aficionado who riled rap fans by buying the only known copy of an album by the Wu-Tang Clan. He's an unabashed self-promoter who livestreams his daily life and boasts he's "the world's most eligible bachelor" and "the most successful Albanian to ever walk the face of this Earth." And he's an equally unabashed provocateur who jousts online with his critics.
Now, prosecutors say Martin Shkreli is a fraudster. He pleaded not guilty Thursday to charges that he looted Retrophin, a pharmaceutical company he founded, of $11 million to pay back disgruntled hedge fund clients.
By Friday, he was out on $5 million bail and back on YouTube, ready anew for his self-created close-up.
"Sorry I didn't livestream yesterday," he said. "I had a lot going on."
Over the next several hours, hundreds watched him play online chess, strum a guitar and talk about an ex-girlfriend — but not about the allegations, which he said he couldn't discuss.
He's a millionaire music aficionado who riled rap fans by buying the only known copy of an album by the Wu-Tang Clan. He's an unabashed self-promoter who livestreams his daily life and boasts he's "the world's most eligible bachelor" and "the most successful Albanian to ever walk the face of this Earth." And he's an equally unabashed provocateur who jousts online with his critics.
Now, prosecutors say Martin Shkreli is a fraudster. He pleaded not guilty Thursday to charges that he looted Retrophin, a pharmaceutical company he founded, of $11 million to pay back disgruntled hedge fund clients.
By Friday, he was out on $5 million bail and back on YouTube, ready anew for his self-created close-up.
"Sorry I didn't livestream yesterday," he said. "I had a lot going on."
Over the next several hours, hundreds watched him play online chess, strum a guitar and talk about an ex-girlfriend — but not about the allegations, which he said he couldn't discuss.
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