Martin Shkreli resigns as CEO of Turing Pharmaceuticals after being charged with securities fraud
Turing Pharmaceuticals CEO Martin Shkreli, who was charged Thursday with securities fraud, has resigned his position.
The company said board chairman Ron Tilles has been named interim CEO.
- Turing Pharma CEO Martin Shkreli defrauded investors with 'a web of lies,' prosecutor says
- Martin Shkreli, 'most hated man in America,' arrested for fraud
Shkreli was arrested in New York City and charged with securities fraud related to his former hedge fund and a drug company he once ran.
A seven-count indictment unsealed in Brooklyn Federal Court charged Shkreli with:
- Conspiracy to commit securities fraud.
- Conspiracy to commit wire fraud.
- Securities fraud.
He has pleaded not guilty to the charges.
The allegations against Shkreli on Thursday have nothing to do with the price-gouging accusations that turned him into a poster boy for corporate greed back in September.
Shkreli was widely attacked when he jacked up the price of Daraprim, a potentially life-saving anti-parasitic drug treatment, from $13.50 US a pill to $750.
<a href="https://twitter.com/MartinShkreli">@MartinShkreli</a> what support? There's a fairly universal feeling that if you were the only human left in a jail we'd call it a day.
—@matcatastrophe<a href="https://twitter.com/MartinShkreli">@MartinShkreli</a> I hate you bro but glad you're home so my plan to steal the Wu album commences
—@JohnDarko<a href="https://twitter.com/MartinShkreli">@MartinShkreli</a> <a href="https://t.co/D84e83Gzch">pic.twitter.com/D84e83Gzch</a>
—@xxxwhiteroses