Hedge Funds

Pharma executive Martin Shkreli arrested on fraud charges

Charges relate to his former work at a hedge fund, not for raising prices on drugs

Drug executive Martin Shkreli stood defiantly against a swell of outrage this fall over his decision to jack up prices for lifesaving drugs. But, according to federal prosecutors, his financial foundation was crumbling.

On December 17, agents from the Federal Bureau of Investigation arrested the 32-year-old Shkreli at his Manhattan apartment over accusations he misled investors in his hedge funds and looted a publicly traded company to cover losses.

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