Martin Shkreli has resigned from his CEO position at Turing Pharmaceuticals after his securities fraud arrest today.
It is believed to have surfaced over his time as a manager of hedge fund MSMB Capital Management and CEO of biopharmaceutical company Retrophin Inc.
Shkreli: Product of Capitalism or Red Tape?
Martin Shkreli made headlines earlier this year after he planned to hike the price of a 62 year old treatment called Daraprim which is used to treat parasitic infection including AIDS. He had planned to take the $13 tablet and sell for $750 US per tablet which was a 5000% increase.
He has become known recently as the “most hated man in America” and recently purchased the only one of a kind Wu-Tang Clan album – One upon a Time in Shaolin for $2 million.
Will Wu-Tang Clans – Once Upon a Time in Shaolin album become public now that Martin Shkreli has been arrested?
If he is found guilty then surely there will be asset forfeiture which could see the album make it into the public given that this could possibly raise more than $2 million.
FBI New York have said on Twitter under handler @NewYorkFBI “#Breaking no seizure warrant at the arrest of Martin Shkreli today, which means we didn’t seize the Wu-Tang Clan album.
So while it is looking like they aren’t looking to seize assets at this time there is possibility that if Martin Shkreli is going to have to defend himself in court which looks like a major possibility then he may look to sell this album off to raise some cash fast.