This site uses cookies. By accepting cookies you can optimise your browsing experience. Read more.
USA: Martin Shkreli arrested over securities fraud charges, confirm officials02:00

USA: Martin Shkreli arrested over securities fraud charges, confirm officials

United States, New York
December 17, 2015 at 21:35 GMT +00:00 · Published

Controversial businessman and financier Martin Shkreli was arrested in Manhattan, New York, on Friday for allegedly committing a series of Ponzi-like frauds while in charge of a number of major hedge funds.

"Over a five-year period, Shkreli perpetrated a series of frauds on individuals and entities who had a business relationship with him," explained Andrew Ceresney, head of the SEC (Securities and Exchange Commission) enforcement division, which regulates hedge fund dealings.

Federal Prosecutor Robert Capers said that Shkreli fraudulently withdrew huge sums of money from one hedge fund under his control, MSMB health care, to pay off "debts that he incurred from a series of bad trades" with another hedge fund called MSMB capital.

Earlier this year Shkreli drew widespread opprobrium after increasing the price of a life-saving prescription drug his company acquired by 5000 percent. Prosecutors did not indicate whether the incident is linked to the now-opened fraud investigation.

USA: Martin Shkreli arrested over securities fraud charges, confirm officials02:00
No Account? Sign up!
Description

Controversial businessman and financier Martin Shkreli was arrested in Manhattan, New York, on Friday for allegedly committing a series of Ponzi-like frauds while in charge of a number of major hedge funds.

"Over a five-year period, Shkreli perpetrated a series of frauds on individuals and entities who had a business relationship with him," explained Andrew Ceresney, head of the SEC (Securities and Exchange Commission) enforcement division, which regulates hedge fund dealings.

Federal Prosecutor Robert Capers said that Shkreli fraudulently withdrew huge sums of money from one hedge fund under his control, MSMB health care, to pay off "debts that he incurred from a series of bad trades" with another hedge fund called MSMB capital.

Earlier this year Shkreli drew widespread opprobrium after increasing the price of a life-saving prescription drug his company acquired by 5000 percent. Prosecutors did not indicate whether the incident is linked to the now-opened fraud investigation.

Top downloads in last 24 hours
01:33
Argentina: Police raid clinic of Maradona’s physicianArgentina: Police raid clinic of Maradona’s physician
November 29, 2020 at 17:30 GMT +00:00
02:54
Thailand: Primates go ape for the Monkey Buffet FestivalThailand: Primates go ape for the Monkey Buffet Festival
November 29, 2020 at 07:56 GMT +00:00
01:49
France: Police use tear gas as protests against new security law escalateFrance: Police use tear gas as protests against new security law escalate
November 28, 2020 at 18:29 GMT +00:00
02:59
France: Chaos hits Paris as protesters clash with police at anti-security bill demoFrance: Chaos hits Paris as protesters clash with police at anti-security bill demo
November 28, 2020 at 23:30 GMT +00:00
01:45
France: Police use water cannon, protesters respond with fireworks as Paris demo turns violentFrance: Police use water cannon, protesters respond with fireworks as Paris demo turns violent
November 29, 2020 at 00:07 GMT +00:00
02:58
Afghanistan: At least 30 killed by car bomb explosion in GhazniAfghanistan: At least 30 killed by car bomb explosion in Ghazni
November 29, 2020 at 11:11 GMT +00:00
05:08
Sudan: Thousands of Ethiopians fleeing from Tigray war relocated to Um Rakuba campSudan: Thousands of Ethiopians fleeing from Tigray war relocated to Um Rakuba camp
November 29, 2020 at 04:26 GMT +00:00
04:17
Turkey: Istanbul craftsman designs luxurious gold and silver masks amid pandemicTurkey: Istanbul craftsman designs luxurious gold and silver masks amid pandemic
November 28, 2020 at 21:30 GMT +00:00
Pool for subscribers only
00:47
Indonesia: Lewotolo volcano erupts spewing ash into skyIndonesia: Lewotolo volcano erupts spewing ash into sky
November 29, 2020 at 05:56 GMT +00:00
02:59
Argentina: Thousands march against abortion rights in Buenos AiresArgentina: Thousands march against abortion rights in Buenos Aires
November 29, 2020 at 06:45 GMT +00:00
02:47
Armenia: Protesters demand government action on returning prisoners of warArmenia: Protesters demand government action on returning prisoners of war
November 28, 2020 at 17:29 GMT +00:00
02:11
Italy: Floods wreak havoc and kill at least 3 in SardiniaItaly: Floods wreak havoc and kill at least 3 in Sardinia
November 28, 2020 at 18:50 GMT +00:00
03:31
Ice rink opens in Moscow's Red Square spreading holiday cheer Ice rink opens in Moscow's Red Square spreading holiday cheer
November 29, 2020 at 00:59 GMT +00:00
01:18
Belarus: Minsk residents hold 'march of neighbours' against president Lukashenko Belarus: Minsk residents hold 'march of neighbours' against president Lukashenko
November 29, 2020 at 18:14 GMT +00:00
03:28
France: Damage and debris on the streets of Paris after violent security bill protestsFrance: Damage and debris on the streets of Paris after violent security bill protests
November 29, 2020 at 14:20 GMT +00:00
Pool for subscribers only
01:18
Iran: Mourners gather for funeral of slain nuclear scientistIran: Mourners gather for funeral of slain nuclear scientist
November 29, 2020 at 09:33 GMT +00:00
Pool for subscribers only
01:23
Egypt: Russian freediver sets new world record for bi-fins dive Egypt: Russian freediver sets new world record for bi-fins dive
November 29, 2020 at 19:37 GMT +00:00
01:59
UK: More arrests made at anti-lockdown protest in LondonUK: More arrests made at anti-lockdown protest in London
November 28, 2020 at 19:19 GMT +00:00
02:33
UK: Arrests made at London anti-lockdown rallyUK: Arrests made at London anti-lockdown rally
November 28, 2020 at 14:18 GMT +00:00
02:34
Guatemala: Protesters burn bus at massive anti-government demoGuatemala: Protesters burn bus at massive anti-government demo
November 29, 2020 at 11:19 GMT +00:00
02:30
Germany: United in denial - COVID sceptics hold joint protest at German-Polish borderGermany: United in denial - COVID sceptics hold joint protest at German-Polish border
November 28, 2020 at 21:08 GMT +00:00
View all videos