FBI Arrests Turing Pharmaceuticals CEO Martin Shkreli
The pharmaceutical company CEO who became infamous after hiking the price of an HIV drug from $13.50 to $750 a pill has been arrested by the FBI, CNBC has confirmed. The arrest comes amid an investigation related to a hedge fund and drug company he once ran, Reuters reported.
Shkreli, 32, who was taken into custody at his New York City residence, is currently the boss of Turing Pharmaceuticals. He was previously the manager of hedge fund MSMB Capital Management and chief executive of biopharmaceutical company Retrophin Inc.
Details of the charges were not immediately available.
Shkreli this year became a lightning rod for growing outrage over the soaring prices of prescription drugs.