Out on bail, Martin Shkreli starts live streaming

Martin Shkreli has resigned as chief executive of Turing Pharmaceuticals following his arrest on securities fraud charges, the company announced Friday.

In this courtroom sketch, entrepreneur and former hedge fund manager Martin Shkreli, second from left, appears in court for his arraignment on fraud charges, Thursday, Dec. 17, 2015, in NY.

However, karma bites – and Shkreli was arrested on Thursday by federal agents, over allegations of fraud at his now-defunct hedge fund MSMB Capital Management.

Shkreli was already widely reviled because a drug company he founded raised the price of a life-saving HIV drug, Daraprim, from .50 to 0 per pill.

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Turing also issued a statement that business would continue as usual and that no patient would be denied access to Daraprim, the drug whose price hike made Shkreli a pariah to both patients and other pharmaceutical companies.

Shkreli reportedly spent $US2 million purchasing a one-of-a-kind secret album from the Wu-Tang Clan.

If convicted, both men could get up to 20 years in prison.

Prior to his arrest and subsequent resignation from Turing, Shkreli spoke to Vanity Fair, comparing himself to a “hip-hop Rockefeller” and claiming that he isn’t affected by the criticism and scorn heaped upon him by media and consumers alike.

Says the spokesman, Craig Stevens, “It is no coincidence that these charges, the result of investigations which have been languishing for considerable time, have been filed at the same time of Shkreli’s high-profile, controversial and yet unrelated activities”.

“Because everything we’ve done is legal”, he said.

“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.”

He said he paid $2 million.

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