Martin Shkreli: Fraud 'allegations are baseless and without merit' claims

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USA prosecutors said he was running a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed.

He did the same thing as head of Turing, acquiring a drug and raising the price from $13.50 a pill to $750.

Ron Tilles has been Chairman of the Board of Directors of Turing Pharmaceuticals since the company launched late previous year.

As most people know, Shkreli paid $2 million for the lone copy of The Wu-Tang Clan's "Once Upon A Time in Shaolin". And he's an equally unabashed provocateur who jousts online with his critics. Despite that, people said Shkreli would come back to Hunter frequently "in a suit and in a briefcase, hanging out in the hallways and sort of showing of".

"Sorry I didn't live stream yesterday", he said. He's going to have to do something for me. Since September he has used Twitter to prod his detractors; he has also appeared on CNBC to defend drug price increases and told guests at a Forbes healthcare conference earlier this month that he should have raised the price of Daraprim further.

The criminal case doesn't involve Turing or Daraprim.

Martin Shkreli, the publicly despised pharmaceutical executive who was arrested Thursday on charges of securities fraud, returned home Friday and set up a live stream from his apartment on YouTube.

Turing also said it was sending a similarly worded letter to doctors stressing that it will continue to offer financial assistance to eligible patients needing Daraprim who are either uninsured or have commercial insurance.

The medical community, the Congress and even presidential candidates, particularly Hillary Clinton and Bernie Sanders strongly criticized Turing Pharmaceuticals' move, which was described as "price gouging" and "greedy". Now, Martin Shkreli can add "Twitter laughingstock" to his resume. He earned his undergraduate degree from Middlebury College in Vermont and his Masters of Business Administration from Columbia University in NY.

Those also in the line of fire of blame are previous employers such as the host of Mad Money Jim Cramer, who apparently hired Martin as a intern when he was seventeen, but claims that he never had a business relationship with him.

On Thursday night, he said via a statement that he was confident he would be cleared of all charges and denied the charges regarding his hedge fund entities.

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