“Most Hated Man in America” Martin Shkreli Was Just Arrested for Alleged Securities Fraud

Craig Ruttle/AP

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Martin Shkreli, the 32-year-old pharmaceuticals executive who landed in the news in September for price-gouging a life-saving drug by a staggering 5,000 percent, was arrested on Thursday for alleged securities fraud.

Bloomberg reports federal agents arrested the Turing CEO at his Manhattan home. He is now being accused of taking money from a previous drug company he founded in 2011, Retrophin Inc., to cover unrelated debts.

The arrest comes just months after reports first surfaced accusing Shkreli of hiking the price of Daraprim, a parasite-killing drug used to treat patients with HIV or cancer, from $13.50 to $750 per pill. Outrage over the price hike prompted multiple headlines declaring him the “most hated man in America.”

Shkreli soon promised to drop the drug’s price to a “point that is more affordable” and that would allow the company to make a “very small profit.” It became quickly apparent, however, that he never intended to follow through on that promise:

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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