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Response to Proserpina (Reply #2)

Sat Dec 19, 2015, 08:39 AM

10. Shkreli Resigns as Turing CEO After Arrest on Securities Fraud

 

http://www.bloomberg.com/news/articles/2015-12-18/shkreli-said-to-plan-to-step-down-as-turing-pharmaceuticals-ceo

Martin Shkreli resigned as chief executive officer of Turing Pharmaceuticals AG following his arrest Thursday on securities fraud charges.

Shkreli will be replaced on an interim basis by Chairman Ron Tilles, Turing said Friday in a statement.

“We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors,” Tilles said.

...“Shkreli essentially ran his company like a Ponzi scheme where he used each subsequent company to pay off defrauded investors from the prior company,” Brooklyn U.S. Attorney Robert Capers said at a press conference. Evan Greebel, a New York lawyer who was alleged in the federal indictment to have helped Shkreli in his schemes, was also arrested and charged. Like Shkreli, he pleaded not guilty and was freed on a $1 million bond...

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