December 18, 2015


Martin Shkreli Resigns From Turing Pharmaceuticals Following Arrest


One day after he was arrested on suspicions of security fraud, Martin Shkreli has resigned from his position as CEO of Turing Pharmaceuticals.

At Turing, Shkreli made headlines after he had notoriously jacked up prices of the life-saving drug Daraprim and jacking its price up from $13.50 to $750 per tablet. Ron Tilles, the chairman of Turing’s board of directors, will step in as CEO on an interim basis, according to NBC.

Shkreli was arrested following a federal investigation into his time as manager of MSMB Capital Management and CEO of pharma company Retrophin. Shkreli allegedly used Retrophin money to illegally pay off outstanding debts from MSMB.

Weeks before his arrest, Shkreli made the world collectively groan when he was revealed to be the one to purchase the Wu-Tang Clan’s one-of-a-kind new album, Once Upon a Time in Shaolin, for $2 million. In a tweet on Thursday, the FBI said that they had not seized the Wu-Tang album when Shkreli was arrested on Thursday morning.