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Current Events PopWrapped | Current Events

Karma Strikes Back: Martin Shkreli Arrested On Fraud Charges

Michelle Dawson | PopWrapped Author

Michelle Dawson

12/20/2015 9:10 am
PopWrapped | Current Events
Karma Strikes Back: Martin Shkreli Arrested On Fraud Charges | Martin Shkreli
Media Courtesy of Associated Press

Martin Shkreli, the 32-year-old pharma drug bro who became one of the most reviled men in the world when he purchased the life-saving medication Daraprim and raised the price from $13.50 to over $700 per pill, was arrested early Thursday on federal charges of securities fraud.  

And with the release of Star Wars: The Force Awakens, the news of Shkreli's arrest could possibly be leading into one of the best weekends ever!  

Martin Shkreli

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Brooklyn prosecutors accuse Shkreli of illegally taking stock from his former company, Retrophin Inc, a biotechnology firm he started in 2011. Shkreli allegedly used the stocks to pay off debts unrelated to the business and he was later fired by the company and sued by the board. The company is currently seeking $65 million in damages. 

Shkreli is facing charges of securities fraud, securities fraud conspiracy and wire fraud conspiracy with a maximum sentence of 20 years in prison for the top count.

At a news conference, Brooklyn U.S. Attorney Robert Capers said that Shkreli "essentially ran his companies like a Ponzi scheme, where he used each subsequent company to pay off defrauded investors in the prior company."

Martin Shkreli

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Most recently, the corporate weasel made headlines again when he was revealed as the "anonymous American" who purchased a one of a kind Wu-Tang Clan album for $2 million at auction.

Martin Shkreli

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The sale, apparently agreed upon before Shkreli's business practices became known, didn't sit well with Wu-Tang members. RZA of the Wu-Tang Clan said of the sale, “The sale of Once Upon a Time in Shaolin was agreed upon in May, well before Martin Skhreli’s [sic] business practices came to light. We decided to give a significant portion of the proceeds to charity.”

Martin Shkreli

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When asked if Shkreli planned to share the album, he did a wonderful job of underscoring what a complete and total tool he is when he told Hip Hip DX, "I’m not going to play it for no reason. If Taylor Swift wants to come over and suck my dick, I’ll play it for her." Oh, Marty, you're so thug. 

Martin Shkreli

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The public at large seems to agree Shkreli is getting exactly what he deserves. Trending alongside Martin Shkreli on Twitter Thursday afternoon was "Karma." So, whether we have karma, The Force or some good ol fashioned FBI investigation work to thank for this; it looks like Martin Shkreli's reign as Smug Douchebag-Supreme is coming to an end. 

We'll continue to follow the story as it unfolds. Until then, may The Force be with you!

Martin Shkreli

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