Turing cuts jobs, looking for new CEO after Shkreli left

A short statement released by KaloBios read simply, “that on December 17, 2015, Martin Shkreli was terminated as Chief Executive Officer of the Company and resigned from his position as a member of the board of directors”.

He told the Wall Street Journal Monday that prosecutors only charged him because of the negative publicity he received for raising the price of a life-saving drug more than 5,000% at another drug company, Turing Pharmaceuticals, that he started after he was sacked by Retrophin.

Shkreli stands accused of using assets from Retrophin to pay off outstanding debts at MSMB – though he has since been released on a $5m bail.

Temperatures in the city, famous for its beaches and hard-partying lifestyle, are set to remain around 85 degrees for the duration of his stay.

U.S. District Judge Kiyo Matsumoto in Brooklyn, New York, ordered Greebel to return his passport to authorities by January 4. Greebel plans to spend a little over a week in the tropical resort town with his wife, their three children, her parents, and a family friend, BuzzFeed News reports.

Prosecutors have said that from 2009 to 2014, Shkreli lost some hedge fund investors’ money through bad trading.

The allegations say Shkreli was running a Ponzi-like scheme at his former hedge fund and a company he headed before he took the helm of Turing Pharmaceuticals Inc, where he created an uproar in September when the company raised the price of the drug Daraprim from $13.50 to $750 a tablet.

Greebel is accused of conspiring with drug company CEO Martin Shkreli to commit securities fraud.

He pinned a tweet calling the charges against him “baseless” and “without merit”.