By: Economic & Finance Report
If you viewers have been watching the reports of former Turing CEO Martin Shkreli, and his reported “ponzi scheme” that he has been maneuvering along securities fraud. His investors has spoken up indicating their discontent and suing him for squandering their money entirely.
On his twitter account Mr. Shkreli issued a statement indicating that the allegations brought against him by the SEC and federal prosecutors are baseless at best, and actually have no merit whatever.
Mr. Shkreli is the pharama CEO of Turing that produces drugs for HIV and Aids. He has become a villain within the past few months for raising AIDS medication Daraprim from $13.50-$750, more then 5,500% from its previous cost.
Politicians and other pharma companies, advacates and analysts have criticized Shkreli’s move in raising the price of Daraprim and he has been cast as a shrewd businessman by the international community and media.