Martin Shkreli, a pharmaceutical entrepreneur and former hedge fund manager who has been widely criticized for drug price gouging, was arrested Thursday morning by the federal authorities.
The investigation, in which Mr. Shkreli has been charged with securities fraud, is related to his time as a hedge fund manager and running the biopharmaceutical company Retrophin — not the price-gouging controversy that has swirled around him.
Mr. Shkreli, 32, is now chief executive and founder of Turing Pharmaceuticals, which has drawn scrutiny for acquiring a decades-old drug and raising the price of it overnight to $750 a pill, from $13.50.
He was arrested in his Midtown Manhattan apartment, according to a law enforcement source, who declined to be identified because the indictment had not been unsealed. Federal prosecutors in Brooklyn were expected to hold a news conference on the charges later Thursday.
UPDATE: Wish this was true….
.@BorowitzReport: Lawyer for Martin Shkreli Hikes Fees Five Thousand Per Cent https://t.co/3Wwvejo5u1 pic.twitter.com/miK26BwCeJ
— The New Yorker (@NewYorker) December 17, 2015