‘Most hated CEO’ resigns from Turing Pharmaceuticals

In message posted on Twitter, Shkreli wrote, “I am confident I will prevail”.

The government indictment said Shkreli ran his hedge fund, MSMB Capital Management, and Retrophin like a Ponzi scheme, using one company to pay off investors in the other. By his early 20s, Shkreli had his own hedge fund and a reputation as an investor who bets a stock’s price will fall.

Turing, a privately held company in NY, said that Ron Tilles, its chairman, would step in as interim chief executive.

The Justice Department added that Shreli’s illicit activities occurred between 2009 and 2014. Among those affected by the price hike were people infected with HIV-AIDS.

He was charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy, with a maximum sentence for the top count of 20 years in prison.

Rodelis was working to ensure “long-term availability” of the tuberculosis drug, and planned to maintain patients’ access, the company said on its website.

Shkreli grew up in Brooklyn, the son of immigrant parents who worked at janitorial jobs.

For his part, Shkreli has retweeted a number of articles about his alleged purchase, including the Bloomberg story that has a picture of him in the tweet.

“I had two guys parked outside of his house for six months” watching him, Shkreli told the rap news site HipHopDX in a tough-talking, expletive-filled interview published Wednesday, the day before his arrest.

Corporate-speak at its best: “We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors”. A phone message left with the foundation was not returned.

A series of seven tweets at midday EST on Sunday from Shkreli’s account included: “Anyone want free money?”

He most recently drew headlines for buying the sole copy of a Wu-Tang Clan album for million and then casually revealing that he never even bothered to listen to it.

Shkreli, who attracted criticism for growing outrage over soaring prescription drug prices, was arrested before dawn at the up-market Murray Hill Tower Apartments in midtown Manhattan on Thursday.