As if we needed more confirmation of the fact Martin Shkreli deserves the title of “Most Hated Man in America,” news has been released that “Pharma Bro” has been arrested on securities fraud.
Shkreli is the drug company CEO that decided to hike the price of the life-saving medication Daraprim from $13.50 to $750 per pill. Bloomberg Business reports that the boyish entrepreneur was arrested by federal agents at his home in Manhattan for securities fraud.
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.
While these charges are completely unrelated to his unethical behavior of hiking drug prices, there is certainly a great satisfaction in knowing that this “champion of the free-market” won’t be quite so free anymore.
The German word “schadenfreude” is defined as “delight in another’s misfortune“ and it doesn’t apply anywhere else better than here. I really can’t think of many people more deserving of getting knocked off their high horse, although he does run a close second to Donald Trump.
Watch the video about the arrest via CNBC:
Featured image via Twitter