Lets talk about Martin Shkreli....

jewseejay

jewseejay

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32 year old CEO of his third company

Best know for monopoly on Cancer drug and raising the price like 1000 %

since that time...

-purchased 1 of 1 Wu tang CD none of us can listen to for 100 years for 2 million dollars

-attemped to bail out Bobby Shmurda 

-raided today by FBI for securities fraud

Soooo. the question begs to be asked.... 

Is that what happens when a powerful genius does Flocca? because this all seems very bathsalty to me. such a fairytale. 

Either way. Dude is a legend. Those of you who believe in Karma gotta be rolling. A rival competitor now sells his cancer drug for pennies on the dollar.
 
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Crazy because I was just on reddit reading about this guy. Knew nothing about him before today but went down a little rabbit hole. The information in your OP is basically what I discovered as well.

He seems like a lonely, greedy, scumbag but he is definitely an powerful entrepreneur.

Has a very punchable face.
 
This is just any other day in the business world.

Icarus flew too high.

I also don't see what karma has to do with it when he's gone out of his way to make ppl hate him and put a target on his smug face.
 
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I have a different definition for the word legend.

The most this guy will get is a couple of years in a white collar, clubfed prison. Dude got too cocky I guess.
 
It’s just after seven in the morning and sunlight is seeping into the corners of Martin Shkreli’s penthouse apartment. It stretches over his prized Geoff Rickly guitar hung on the wall, past his one-of-a-kind $2 million Wu-Tang album on the shelf, and onto the stack of Alternative Press magazines fanned out on the coffee table. The master wakes, peeks his eyes out from beneath his velvet sleep mask, and takes a long look at the cold, empty side of his California King bed. He sighs.

Martin reaches for the iPad on his nightstand and digs into his email. He flicks past his very important business messages in search of his Google alerts. A good showing today—19 results for “Taylor Swift.” He skims through each story, absorbing everything he can about the object of his desire. He stops on a photo of Taylor at a fundraising gala and touches the back of his fingers to the screen, against the smooth length of Taylor’s face. “Today, my dear...” Martin whispers, “today is for you.”


He hangs his feet off the edge of the bed and places them firmly onto his hoverboard. He stands, fastens his monogrammed robe, and glides down his hallway, the wind gently whipping through the sparse chest hairs protruding out. As he zooms along the long stretch of hardwood floors, he admires the framed, autographed Say Anything and Thrice posters that adorn his walls, but only briefly, for today is a busy day in the life of Martin Shkreli.

The lights illuminate in Martin’s home dojo via the home entertainment app on his gold iPhone 6S Plus. He cinches the belt of his karate gi and bows to the men portrayed in each of the room’s custom oil paintings: Trump, Segal, Lazzara. He unleashes his morning fury onto the martial arts dummy. “Hiyaaaa!” he screams with a vengeful wrath. “Take that! ...And this!” each blow landing a devastating wrist shot firmly on the rubber man’s torso. “Not punk enough, am I? How do you like this?” The slaps echo throughout the spacious luxury apartment.

In the bathroom after his morning steam shower, Martin pushes his hair to the side with the Octavo titanium comb he read about in Esquire, repeatedly checking his work against the photo taped to his mirror of a Lifted era Conor Oberst. A bit more Bed Head sculpting cream, he thinks, when suddenly, he gasps. Is that… could it be… it is! A real-life hair sticking out of his own chin! He marvels at it for a bit, stroking it, petting it, gazing into the mirror and imagining himself conversing with friends while donning a thick, luxurious beard. He is running late though so he lathers his face with alcohol-free cream and shaves using a vintage razor once used by John Lennon that he won at an auction.

***

The sunlight begins to tuck behind the afternoon clouds as Martin taps away on the mahogany desk in his office on Wall Street. He’s spent the better part of the morning trading and dumping stocks while listening to his favorite pump-up album, Glassjaw’s Worship and Tribute, and postponed his 2 PM meeting to spend more time arguing with the uneducated masses on Twitter. He calls to his assistant: “Taylor! Taylor, can you come in here for a moment?” Taylor enters. She is young, with dirty blonde hair and a toothy smile.

“How was your weekend, Taylor?”

“Well, some friends and I went to—” But Martin raises an index finger to interrupt her. There is a long, tense silence filling the room as he stares at her. “Do you know what this is?”

“What what is, Mr. Shkreli?” she asks nervously.

“This song, of course,” he says, motioning to the Beats Pill speakers emitting music played via Bluetooth.

“No, sir, Mr. Shkreli,” she says.

“It’s the band Brand New, do you know them?”

“I don’t, sir.”

Martin's face grows dark. On the outside, he barely maintains a calm composure, but inside, there is a fire burning down to his very soul. Brand. New. She doesn’t know Brand New. How could she—no, how could any person—tackle the complexities of life and human emotion without the wisdom and brilliant lyricism of Jesse Lacey, the furious shredding of guitarist Vincent Accardi, the inimitable basslines of Garrett Tierney, and the competent drumwork of Brian Lane? A single bead of sweat drips down his forehead.

“Well,” he imposes, “this is their unreleased demo you’re listening to. Only I own it, and I assure you, it’s very, very rare.”

Taylor fidgets with her iPad, unsure how to appease Mr. Shkreli. “Oh. Well, that’s very cool, sir,” she says.

“Yes, it’s actually extremely cool, Taylor. Do you know how many people on AbsolutePunk would kill to hear what you’re hearing?” he asks rhetorically, swinging his leather ergonomic chair away to face the New York City skyline. “You should go now,” he says gruffly, raising the volume on his Beats Pill speakers, immersing himself completely in song.

“Very good, sir,” she says, turning to leave.

“And don’t forget, Taylor, I’ll need a car to Brooklyn this evening. Don’t screw it up this time.”

***

Martin’s black sedan pulls up to Brooklyn Bowl in Williamsburg, the rear door opens, and his Converse All Stars touch down on the concrete. Martin has changed into his evening outfit—a pair of fresh sneakers whose particular design is not available to the public yet, carefully pressed 7 for All Mankind distressed straight-leg jeans, and a navy J. Crew blazer accentuated by the Pianos Become the Teeth T-shirt poking out from between the lapels. He looks at his reflection in the car’s tinted window and tousles his hair a bit. “Perfect, Marty. Pefect.”

A line of people stretches around the corner but Martin Shkreli is not a man who waits on lines. He pushes through the crowd to the ticket window.

“Yes, my name is Martin Shkreli and I’m on the VIP list for this evening’s Emo Night,” he tells the woman behind the glass. “Martin. Shkreli,” he repeats, carefully accentuating each syllable.

“There is no VIP list,” she tells him. “Are you maybe on the regular guestlist?”

“I certainly should be. Look under ‘Shkreli.’ ‘Martin Shkreli.’”

“Still not seeing you here,” she says, flipping through the pages.

“Surely, there must be some mistake,” he says. “Here, let me give you my ID.” He reaches into his front pocket and retrieves his money clip. He opens it in front of her and his driver’s license falls onto the counter, along with many hundred dollar bills and a Trojan Magnum condom. “Oops. Clumsy me,” he smirks.

“You’re not on any lists,” the woman tells him. Her patience has grown thin.

“Well look again!” Martin says, pounding his fist down. “I’m Martin Shkreli, goddammit. Do you know who I am? I’m personally funding this Emo Night. You see these promotional shirts? I paid for them! Hell, I could buy this whole damn bar if I wanted to and have your *** fired.”

She checks his license again, inspecting the date of birth and looking down at his face, his eyes now welling with tears.

“Fine,” she concedes.

“About damn time,” his voice cracks as he wipes his eye with his sleeve. She stamps his hand. “Wait,” he says, “can you also write ‘VIP’ on it?”

Inside, Martin surveys the room. To his left, two women sing along passionately to Dashboard Confessional’s “Hands Down.” To his right, a group of guys in hoodies talk about how they prefer the old Title Fight. He breathes it all in, inhaling the familiar scent of nostalgia and MerchNow products. Truly, he is among his people.

He spots a woman at the bar, tall and thin, not unlike Taylor Swift, and sidles up against her.

“Can I buy you a drink?” he asks.

“Uh, yeah, whatever,” she says.

“I like your tote bag,” he tells her, pointing to The Hotelier’s logo on the bag hanging from her shoulder. “You know, I own the record label that band is on. Maybe you’ve heard of me?” But the music is too loud.

“You own this record?” the woman shouts.

“No,” he says, raising his voice in frustration. “I own the label! The la-bel! I’m Martin Shkreli! I own Turing!”

“You’re touring?”

“No, Turing Phamaceuticals! Pharma-ceu-ti-cals!” he mouths.

“Sticks and Stones? Yeah that’s my favorite New Found Glory album,” she says.

“No, I—” he reaches into his pocket and unfolds an article about himself in Bloomberg Businessweek… but she’s already taken her drink and left.

***

“Headed home, Mr. Shkreli?” Martin’s driver asks as he closes the sedan door behind him.

“Yes,” he says. “But first, take me past my spot. I want to see her.”

“Again? Well, you’re the boss, Mr. Shkreli.”

“I am the boss,” Martin thinks. The car pulls over on West 44th Street, beneath a giant, illuminated billboard promoting Taylor Swift’s album. The window rolls down and Martin looks up at her from his seat. He says nothing, but raises the volume on his Ultrasone headphones, letting the power of Brand New’s Daisy fill the space in his heart.

“Some men die under the mountain just looking for gold,” he mouths along to the song, clenching his money clip with one hand, and tracing Taylor’s face in the air with the other. “...And some die looking for a hand to hold.”
 
When I first heard about this guy I thought it was all one big prank and that he was actually that guy from Lonely Island



View media item 1831915

:lol: They look so alike. I wonder why SNL didn't call him up to do some skits.
 
http://www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/


Shkreli, CEO Reviled for Drug Price Gouging, Arrested on Securities Fraud Charges
32-year-old suspected of plundering Retrophin to pay debts

By Christie Smythe and Keri Geiger | December 17, 2015

Martin Shkreli, the boyish drug company entrepreneur, who rocketed to infamy by jacking up the price of a life-saving pill from $13.50 to $750, was arrested by federal agents at his Manhattan home early Thursday morning on securities fraud related to a firm he founded.

Shkreli, 32, ignited a firestorm over drug prices in September and became a symbol of defiant greed. The federal case against him has nothing to do with pharmaceutical costs, however. Prosecutors in Brooklyn charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings. He was later ousted from the company, where he’d been chief executive officer, and sued by its board.

In the case that closely tracks that suit, federal prosecutors accused Shkreli of engaging in a complicated shell game after his defunct hedge fund, MSMB Capital Management, lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements. A New York lawyer, Evan Greebel, was also arrested early Thursday. He's accused of conspiring with Shkreli in part of the scheme.

Retrophin replaced Shkreli as CEO “because of serious concerns about his conduct,” the company said in a statement. The company, which hasn’t been accused of any wrongdoing, has “fully cooperated with the government investigations into Mr. Shkreli.”

Shkreli’s lawyer didn’t immediately respond to requests for comment. Greebel, who worked at Katten Muchin Rosenman LLP and served as lead outside counsel to Retrophin from 2012 to 2014, helped Shkreli in several schemes, prosecutors said. A spokeswoman for Katten Muchin declined comment; a spokeswoman for Kaye Scholer, where Greebel now works, said he joined the firm after the alleged activities occurred.

Authorities outlined years of investment losses and lies Shkreli allegedly told his investors almost from the moment he began managing money. By age 26, they said, he got nine investors to place $3 million with him, began losing their money and covering it up. Within a year, his fund's account was down to $331.

Shkreli attracted another $2.35 million investment in 2010 and lost about half of that in two months, the authorities said. As the hole grew, he covered it up with scheme after scheme, telling investors that his returns were as high as 35.8 percent when he was down 18 percent. He used client money to pay for his clothing, food and medical expenses and lied to the broker handling his fund's accounts, authorities said.

Shkreli’s extraordinary history—and current hold on the public imagination—makes the case more noteworthy than most involving securities fraud. The son of immigrants from Albania and Croatia who worked as janitors and raised him deep in working-class Brooklyn, Shkreli both epitomizes the American dream and sullies it. As a youth, he showed exceptional promise and independence and, after dropping out of an elite Manhattan high school, began his conquest of Wall Street before he was 20.

His name entered public consciousness after he raised the price more than 55-fold for Daraprim. It is the preferred treatment for a parasitic condition known as toxoplasmosis, which can be deadly for unborn babies and patients with compromised immune systems including those with HIV or cancer. His company, Turing Pharmaceuticals AG, bought the drug, moved it to a closed distribution system and instantly drove the price into the stratosphere.

The moves drew shocked rebukes from Congress, public-interest groups, doctors and presidential candidates, and cast an unwelcome spotlight on the rising prices of older drugs. Donald Trump called Shkreli a “spoiled brat,” and the BBC dubbed him the “most hated man in America.” Bernie Sanders, a Democratic presidential candidate, rejected a $2,700 campaign donation from him, directing it to an HIV clinic. A spokesman said in October that the campaign would not keep money “from this poster boy for drug company greed.”

Shkreli initially responded to the criticism by saying he would lower the Daraprim price and then changed his mind again. When Hillary Clinton tried one more time last month to get him to cut the cost, he dismissed her with the tweet “lol.” At a Forbes summit in New York this month, wearing a hooded sweatshirt, he said if he could have done it over, “I probably would have raised the price higher,” adding, “my investors expect me to maximize profits.”

In fact, it is not only his drug pricing that has turned him into an object of public derision. He recently spent millions on the only copy of a Wu-Tang Clan album that music fans would love to hear and then told Bloomberg Businessweek that he had no immediate plans to listen to it. He spars often on Twitter and message boards, parading his business strategies, musical tastes and politics; he live-streams from his office for long stretches.

And a range of investors has been after him for some time.

Retrophin sued Shkreli in August for misuse of company funds, claiming he engineered numerous transactions between investors in MSMB and the biotechnology firm. Similar allegations are laid out in the company's regulatory filings.

The company alleged in a complaint filed in Manhattan federal court that, through a disastrous trade with Merrill Lynch in 2011, Shkreli cost MSMB more than $7 million, leaving it virtually bankrupt.
From Wall Street Wunderkind to “Most Hated Man in America"

About 2000: Age 17, Shkreli interns for Jim Cramer, of “Mad Money," and correctly predicts biotech decline.

Early 2000s: Sets up hedge funds, trash-talking companies he is shorting.

About 2009: Founds MSMB Capital Management, which later suffers losses on a bad trade with Merrill Lynch.

February 2011: Starts Retrophin, a biotech company.

September 2014: Voted out as Retrophin's CEO, Shkreli tweets that the directors are “inane."

February 2015: Launches new company, Turing Pharmaceuticals, which acquires an old drug and jacks up their prices.

August 2015: Retrophin sues Shkreli for $65 million, saying he used company assets to pay off hedge fund investors.

September 2015: Storm erupts over Turing's price increase—from $13.50 to $750 a pill—for anti-parasitic drug Daraprim.

Sept. 21, 2015: Hillary Clinton tweets “Price gouging like this in the specialty drug market is outrageous. Tomorrow, I'll lay out a plan to take it on."

October 2015: New York attorney general investigates the pricing and distribution of Daraprim.

November 2015: A Shkreli-led group buys majority of KaloBios, presaging price increase in drug for Chagas disease.

Nov. 5, 2015: To critics of his drug-pricing strategy, Shkreli tweets “lol."

December 2015: News emerges that Shkreli bought the only copy of the Wu-Tang Clan's latest album.

Shkreli tweets: “Within 10 years, more than half of all rap/hip-hop music will be made exclusively for me. Don't worry—I will share some of it."

Retrophin also asserts that Shkreli entered into payoff agreements with as many as 10 MSMB investors who lost money when the hedge fund became insolvent. Shkreli paid some investors through fake consulting agreements and others through unauthorized appropriations of stock and cash, the company alleged.

Complex financial maneuvers were used to conceal the payments, Retrophin said. For example, the company accused its former CEO of fraudulently reclassifying a $900,000 equity investment that MSMB made in Retrophin as a loan. He then allegedly had Retrophin pay off that loan to settle another unrelated legal dispute.

The Securities and Exchange Commission, which according to court documents opened an investigation into Shkreli in 2012, is expected to file a parallel civil complaint against him, according to people familiar with the matter.

Shkreli spoke cavalierly of the company’s lawsuit, saying, “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.”

Earlier, he had denied wrongdoing in a post on InvestorsHub after Retrophin disclosed it had received a subpoena from federal prosecutors and the preliminary findings from its own investigation of Shkreli. He called the company's allegations “completely false, untrue at best and defamatory at worst.”

“Every transaction I’ve ever made at Retrophin was done with outside counsel’s blessing,” he said on the investment blog in February, without identifying the lawyers.

Shkreli started his career interning for “Mad Money” host Jim Cramer while still a teenager. After recommending successful trades, Shkreli eventually set up his own hedge fund, quickly developing a reputation for trashing biotechnology stocks in online chatrooms and shorting them, to enormous profit.

Widely admired for his intellect and sharp eye, he pored over medical journals and self-trained in biology. He set up Retrophin to develop drugs and acquire older pharmaceuticals that could be sold for higher profits.

Turing, which is less than a year old and has raised $90 million in financing, has followed a similar strategy with the purchase of drug patents, including Daraprim.

Shkreli recently bought a majority stake in KaloBios Pharmaceuticals Inc. after Turing received a warning from the New York attorney general that the distribution network for Daraprim may violate antitrust laws. State officials made their concerns known to Turing and Shkreli in an Oct. 12 letter obtained by Bloomberg.

KaloBios recently acquired the license for benznidazole, a standard treatment for Chagas, a deadly parasitic infection most common in South and Central America. The firm announced plans to increase the cost from a couple hundred dollars for two months to a pricing structure like that for hepatitis-C drugs, which can run to nearly $100,000 for 12 weeks.

With the onslaught of federal charges and looming regulatory actions, Shkreli could be banned from running a public company, which could put the future of KaloBios into question. Trading in KaloBios shares was halted after the stock fell 53 percent. It’s less clear what the impact could be on Turing, which is privately held.

The charges also show that a small group of health care firms—ones that acquire the rights to drugs and significantly increase their prices—is drawing the scrutiny of regulators and prosecutors, with a possible chilling effect on aggressive drug-pricing strategies.

Legislators are already paying attention. A hearing of the Senate Special Committee on Aging on Dec. 9 scrutinized such tactics.

Before Shkreli started Turing, Retrophin raised the price of Thiola, used to treat a rare condition causing debilitating recurrences of kidney stones, from $1.50 a pill to $30.

“Some of these companies seem to act more like hedge funds than traditional pharmaceutical companies,” said Senator Susan Collins, a Maine Republican who ran the recent hearing.

George Scangos, CEO of biotechnology giant Biogen Inc., went further, saying in an interview, “Turing is to a research-based company like a loan shark is to a legitimate bank.”

(Updates with new details from the federal indictment and SEC complaint.)
 
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JJs07 said:
You still haven't said what makes him a legend.

He's cut from the same cloth as Dan Blizerian.
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I get it, hes the face of profiting off others illness/death and yall dont like him. me either

but hes not alone and it was a short he knew it wouldnt take long for someone to undercut him out entirely.

and to act like your not a legend if it pertains to things outside your moral fabric is asanine. Chapo is a legend. Big Meech etc etc etc
 
Master Zik said:
laugh.gif
@ OP calling this dude a legend.
Click to expand...
leg·end

ˈlejənd/

noun

  1. 1.

    a traditional story sometimes popularly regarded as historical but unauthenticated.

    "the legend of King Arthur"

    [table][tr][td]synonyms:[/td][td]myth, saga, epic, tale, story, folk tale, folk story, fairy tale, fable,mythos, folklore, lore, mythology, fantasy, oral history, folk tradition;
    urban myth

    "Arthurian legends"
    [/td][/tr][/table]

  2. 2.

    an extremely famous or notorious person, especially in a particular field.

    "the man was a living legend"

    [table][tr][td]synonyms:[/td][td]celebrity, star, superstar, icon, phenomenon, luminary, leading light,giant; More[/td][/tr][/table]
 
I REALLY think you're confusing "notorious" with "legend." One, is not like the other, IMO.
 
JJs07 said:
I REALLY think you're confusing "notorious" with "legend." One, is not like the other, IMO.
Click to expand...
leg·end

ˈlejənd/

noun

  1. 1.

    a traditional story sometimes popularly regarded as historical but unauthenticated.

    "the legend of King Arthur"

    [table][tr][td]synonyms:[/td][td]myth, saga, epic, tale, story, folk tale, folk story, fairy tale, fable,mythos, folklore, lore, mythology, fantasy, oral history, folk tradition;
    urban myth

    "Arthurian legends"
    [/td][/tr][/table]

  2. 2.

    an extremely famous or notorious person, especially in a particular field.

    "the man was a living legend"

    [table][tr][td]synonyms:[/td][td]celebrity, star, superstar, icon, phenomenon, luminary, leading light,giant; More[/td][/tr][/table]
 
this is like the seventh time someone has posted about this guy in the last 24 hours...

how do we know this isn't a set up to get us talking about him?
 
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Hennessy said:
Crazy because I was just on reddit reading about this guy. Knew nothing about him before today but went down a little rabbit hole. The information in your OP is basically what I discovered as well.

He seems like a lonely, greedy, scumbag but he is definitely an powerful entrepreneur.

Has a very punchable face.
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This is exactly what I came here to say. Thank you for saying it for me.
 
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