Martin Shkreli says securities fraud charges are ‘baseless’

Martin had a knack of snapping up drug companies that produced little used and low-priced drugs and then taking up the prices to astronomical levels.

Tilles also thanked Shkreli “for helping us build Turing Pharmaceuticals into the dynamic research-focused company it is today”, a reference to Shkreli’s after-the-fact claim that he needed to raise Daraprim’s price so much to fund research on other drugs. From left are defense attorney Baruch White, Martin Shkreli, defense attorney Jonathan Sack and co-defendant Evan Greebel, who was charged with conspiracy.

Shkreli was arrested for securities fraud last week and the entire world has rejoiced in the news.

Shkreli was arrested by the Federal Bureau of Investigation on Thursday morning after being charged with securities fraud, securities fraud conspiracy, and wire fraud conspiracy for allegedly orchestrating three interrelated schemes.

“The Directors of Retrophin replaced Martin Shkreli as Chief Executive Officer more than a year ago because of serious concerns about his conduct”.

“If the board wants to fire me, they are welcome to fire me, but until they do, we’re going to get through this thing.”

It was a dramatic turn of events for Shkreli, who in recent months became a pariah for his controversial remarks in the press and taunts on social media outlets, including to Democratic presidential candidate Bernie Sanders. The company also investigated and eventually sued Shkreli for possible corrupt trading practices and alleged fake consulting deals with investors who lost money on Retrophin.

Earlier in the day, Shkreli, who often tweets about his political views and musical taste, wrote on Twitter (@MartinShkreli): “Glad to be home”.

The Campaign for Accountability, a nonprofit watchdog group that urged Congress to investigate Shkreli’s price increases, called his arrest “long overdue” and added: “He has avoided accountability despite a pattern of fraudulent behavior”.

Shkreli is also CEO of drugmaker KaloBios Pharmaceuticals Inc (KBIO.O).

Nasdaq has placed KaloBios’ stock on a trading halt until the company provides more information.