Martin Shkreli‘s shady past is finally catching up with him.
The 32-year-old douche bag was arrested by the FBI earlier this morning as part of a federal investigation related to his former hedge fund and Retrophin, a biopharmaceutical company he started in 2011.
According to the New York Times, Shkreli was quietly taken out of his midtown Manhattan apartment in handcuffs earlier today. Federal prosecutors are expected to hold a news conference on the charges, which are believed to be securities fraud, later today. His former lawyer, Evan L. Greebel, was also arrested.
To make a long story short, Shkreli started Retrophin in 2011. At the same time, he was working for the hedge fund MSMB Capital Management. In 2014, he was ousted from the drug company after being accused of stealing money to pay off clients from the hedge fund.
“Shkreli was the paradigm faithless servant,” Retrophin’s complaint against Shkreli reads. “Starting sometime in early 2012, and continuing until he left the company, Shkreli used his control over Retrophin to enrich himself and to pay off claims of MSMB investors (who he had defrauded).”
Shkreli has denied any wrongdoing in the matter. When asked about the lawsuit earlier this year, he said: “The $65 million Retrophin wants from me would not dent me. I feel great. I’m licking my chops over the suits I’m going to file against them.”
h/t: New York Times