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Benedicte Gravrand, Opalesque Geneva: It’s all over the news. American pharmaceutical entrepreneur Martin Shkreli was arrested by the FBI on Thursday morning, after a federal investigation involving his former hedge fund and a pharmaceutical company he previously headed, namely MSMB Capital Management and Retrophin.
Mr Shkreli is accused of taking stock from the public pharmaceutical company he had started, Retrophin, and using it to pay back debts at his former hedge fund, MSMB Capital, The FT says.
More precisely, according to an indictment unsealed in Brooklyn federal court, Mr. Shkreli is accused of running three interconnected schemes, defrauding investors in the two funds and using stock from Retrophin to conceal the funds’ losses and pay investors, reports WSJ.com. The SEC also has brought similar charges against Mr. Shkreli. FBI agents arrested lawyer Evan L. Greebel as well, on wire fraud charges, accusing him of helping Mr. Shkreli.
Shkreli started Retrophin in 2011 and was later oust...................... To view our full article Click here
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