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"Most Hated Man In America" Martin Shkreli Arrested On Suspicion of Fraud (ibtimes.co.uk)
Ewan Palmer writes that everyone's least favorite medication price gouger, Martin Shkreli, has run into some legal problems. According to the article "Pharmaceutical start-up owner Martin Shkreli, dubbed the most hated man in the US over his controversial plans to significantly raise the price of life-saving drugs, has been arrested on suspicion of fraud. Shkreli, 32, who received widespread criticism for hiking up the price of Daraprim from $13 to $750 per pill in September, is being questioned over allegations involving stock from a company he founded in 2011. According to Bloomberg, Shkreli is accused of illegally taking stock from biotechnology Retrophin Inc to pay off debts from unrelated business dealings."
This guy is going to simultaneously get himself thrown in jail AND get the pharmaceutical industry even MORE heavily regulated with his dumbass shenanigans.
Chas - The one, the only.
THANK GOD!!!
He'll wind up in jail, but I'm not so sure about the other part. The cynic in me thinks the 1% has thrown this little twerp to the wolves as a sacrifice. A troublemaker for the pharma profit machine goes down, the masses are sated, and the rest of the industry keeps chugging along.
I think his criminal misdeeds have more to do with the financial than the pharmaceutical industry.
That said, I'm feeling some nice warm fuzzy schadenfreude about this, after what he did with Daraprim.
If it weren't for deadlines, nothing would be late.
So it's a WIN WIN.
Big pharma, meet big karma.
Fifty years of Yippie! 1968-2018
Perhaps his plan was to paint the government as coming after him on a trumped-up charge in retaliation for his raising the price of Daraprim by 5,500%. However a close look reveals he's been under investigation for quite a while, for example:
http://www.cnbc.com/2015/12/17...
> That said, I'm feeling some nice warm fuzzy schadenfreude about this, after what he did with Daraprim.
And that's the trap set for you. The system that allows any asshole like this to do the same thing tomorrow is still firmly in place.
Wake me up when patients can import drugs from abroad, without any hassle, to keep miscreants like Shkreli in check with competition. I'll wear my comfy PJ's as it'll be a while, as corporations continue to gouge patients, leaving the working poor without access to medicine while a few get rich.
My God, it's Full of Source!
OUTSIDE_IP=$(dig +short my.ip @outsideip.net)
He was not rounded up because he was gouging poor people for 1000x what they could ever afford to pay for medicine.
He was rounded up because he stole from rich people 1/1000 of what they could afford to lose.
The guy is obviously a sociopath. It shouldn't surprise anyone that he's a crook, on top of being a shameless, heartless profiteer. He practically basks in his pathological condition. Sadly. jail will do nothing for him, like all sociopaths, he lacks even a basic capacity for human decency. He'll get out and immediately try to find new ways to ingratiate himself and fuck other people over.
The world's burning. Moped Jesus spotted on I50. Details at 11.
its sort of weird how people condone male rape in jail as just a part of the process but if this was a women going to jail no one would be cheering or begging for her to get raped....
Sorry, I just get tired of seeing people make remarks like the one posted....and yes, this dude should totally get thrown into the worst jail we can send him. Although its not like he's much different from the rest of the scumbag pharma companies out there....
after what he did with Daraprim.
Bring the nation's attention upon a thoroughly broken system that has been quietly abused for years? (see: people getting their medicine from Canada, guess why)
Don't waste your vote! Vote for whoever you want, unless you live in a swing state it won't matter anyways
Say what you want about the GP, he belongs here more than you, as he has bothered to create an account and use it for quite some time now. Seems like you are the one who belongs over at digg
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun
The guy is obviously a sociopath.
According to Google CEOs tend to be Psychopaths.
It must have been something you assimilated. . . .
This is really pretty interesting. My parents have trended pretty seriously right wing since moving to Arizona for retirement. They absolutely hated the idea of Obamacare, every single healthcare reform that the Democrats proposed they would shoot down. But they buy their prescriptions in Mexico. That, friends, is literally what George Orwell called "doublethink." And damned if I know how to break its hold.
Breakfast served all day!
http://www.newyorker.com/humor... ;-)
Give this guy a nice itchy, squirmy, oozing protozoal infection, put a prescription of Daraprim in front of him with a price tag on it that reads the amount of profit he enjoyed from jacking up the costs.
He can have the pills after a few weeks when the insurance company would authorize the payment.
Left MS Windows for Linux Mint and never looked back!
Vote for Bernie in 2016!
Did you even READ the article? Well of course not, this is slashdot and you are a reactionary moron with a political agenda.
The guy ran a company that went bankrupt. In the process of running this company is falsified return numbers and lied to investors. He then went on to do a full on ponzi scheme where he brought in new investors to pay off previous investors while lying about what he did the entire time. Then he joined a pharmaceutical company (not his current employer) and proceeded to steal money from them to pay off investors from the failed company.
This former employer has sued him in court and laid out in gory details the entire ponzi scheme, his theft and lies to all the people involved and his eventual embezzlement from them. The feds then began an investigation based on the lawsuit. This all started MONTHS before the whole scandal with trying to fuck children and aids patients out of $80K a month.
Everything he did is not one bit different that what Bernie Madoff did. This guy is a complete and total asshole who should be in jail for a VERY long time.
"Regular karma means he's going to reincarnate as a cockroach."
Hey, that's pretty unjust: being a cockroach twice in a row.
"If Obamacare has to pay by law, every drug company should raise their prices 10x. It's free money. They would be stupid not to."
Hummm... it makes sense. If only we could test it real world before putting it in practice in USA...
Hey, wait a second! Now that I think of it, there *are* other countries, a vast majority in fact, that already have socialized healthcare in place. Surely they'll demonstrate your thesis!
Now, wait *another* second: how is it that all those other countries get better prices from big pharma than USA? It can't be coz you are wrong, can it?
Don't buy into pharma's fear campaign. They want you to think that drugs purchased from another country at a cheaper rate are somehow suspect or dangerous so that you'll be happy paying extortionist prices for the same drug locally.
Their laws about buying externally and reselling internally violate the Sherman Act and should be struck down. Good luck getting that done with the bastion of corruption that's been haunting the halls of government for decades now.
. Medically, there is no distinction.
When Argumentum ad Hominem falls short, try Argumentum ad Matrem
After all, if the product was such a loser, the proper thing to do would be to allow the market to take over and allow the company to fail, no?
What more needs to be done to "allow the market to take over" when a drug is "not subject to any unexpired patent"? (ref) Any company that wanted to cut into the market could have started manufacturing and selling it for less.
Actually, one would hope that him going to jail (for years hopefully), would tell investors to stay the hell away from him. Guy is a sociopath that should either rot in jail or in a cardboard box under a bridge.
Don't buy into pharma's fear campaign. They want you to think that drugs purchased from another country at a cheaper rate are somehow suspect or dangerous so that you'll be happy paying extortionist prices for the same drug locally.
Their laws about buying externally and reselling internally violate the Sherman Act and should be struck down. Good luck getting that done with the bastion of corruption that's been haunting the halls of government for decades now.
If those drugs have been manufactured in India, then they probably are in fact suspect and dangerous.
Read about Ranbaxy's HIV drugs and their $400 million dollar fine.
The basic idea behind Romneycare/Obamacare is sound, the implementation of it seems to be painfully flawed. The rest of the modern world solves the major costs of healthcare through taxes and requires the pharmacies to offer the cheapest variant of a specific drug (different manufacturers have to compete) to push down costs.
Healthcare in the US is a sick story.
If builders built buildings the way programmers wrote programs, then the first woodpecker would destroy civilization.
Outside-USA sources - https://en.wikipedia.org/wiki/... , http://blueskydrugs.com/Produc... . and an info post from a 'supposed supplier in CA - http://www.dailykos.com/story/...
redneck geek
I was going to make some snide remark to the effect that you shouldn't offer to define terms you don't understand, but instead I did a bit of reading and discovered that you're actually right about the nature vs nurture thing. So I learned something this morning. Thanks!
Il n'y a pas de Planet B.
Let any yahoo sell pills to Americans over the internet with no hope of accountability.
Import restrictions and accountability are two different things.
When a guy kills a random person just to point out that the police can't be everywhere at the same time, he's not offering a valuable insight into society to change it, he's just a murderer being cheeky.
This guy went around literally condemning people to death because he was a greedy fuck, he doesn't deserve any sympathy and your argument is bogus.
A rational person who truly wanted to help people when he has a monopoly on fully developed drugs worth $1 a pill, bought from a company who already jacked up the price 10fold just one year earlier out of greed, doesn't jack the price up 700 times to make a point about the state of the industry. A rational person who wants to help sells the pills for $1 a pop, so as to maximize the good they do to individual suffering people.
There he goes again, letting his childish, irrational hatred pollute another discussion. Grow up, you tiny-minded fool. Your children won't thank you for being so intellectually lazy.
I don't care much for the affordable care act, and I'm in favor of allowing people to buy medication from wherever the hell they please. There's no "doublethink" here. I'm just a free market guy.
The question is not really what they're allowed to do, because they seem perfectly content to import foreign medicines illegally. The question is why should they feel compelled to do that if the US healthcare system is so perfect it shouldn't be tampered with?
Breakfast served all day!