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He's been arrested for securities fraud, offering hope that there really is a God. The Feds described Martin Shkreli ran his companies like Ponzi schemes, and built his empire on fraud. His pharmaceutical company isn't part of the investigation, but it seems like nearly everything else he did before that is.

This comes as fantastic news, as he was targeting another drug for acquisition, one that treated Chaga's disease, which affects roughly 300,000 Americans. He planned to raise the price of a course of treatment to about a million dollars. Guess that won't be happening now, will it?

Zappit said:

Guess that won't be happening now, will it?

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That really depends on what the board of directors wants to do.

--Patrick

Welp, that was quick.
http://www.nbcnews.com/business/bus...harmaceuticals-interim-boss-announced-n482636

Martin Shkreli, the disgraced CEO of drugmaker Turing Pharmaceuticals, resigned Friday from the company he founded following his arrest on unrelated securities fraud charges.

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--Patrick

He'll wipe his tear with barrels of money.

Dave said:

He'll wipe his tear with barrels of money.

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If he actually sees some jail time, all that money won't be all that much fun.

Bubble181 said:

If he actually sees some jail time, all that money won't be all that much fun.

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He will see little if any jail time and the jail time he sees will be a white collar jail which to you or I would be like a vacation. Then he'll get out early and still be filthy rich because rich people with a record can still get jobs.

Dave said:

He will see little if any jail time and the jail time he sees will be a white collar jail which to you or I would be like a vacation. Then he'll get out early and still be filthy rich because rich people with a record can still get jobs.

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I know. One can hope.

Nah, this guy's going down like Madoff. His assets will be seized, and he's already under observation in case he tries to hide his money. If he's convicted - and, let's face it, there's not a jury in this country that wouldn't want to wipe that sociopathic smug smiled off his face - pretty much everything he owns will be seized to pay off the millions he stole.

He'll get out, but he'll be completely broke.

...and the Wu Tang Clan CD will never see the light of day.

sixpackshaker said:

...and the Wu Tang Clan CD will never see the light of day.

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He might try to sell it when shit really starts to get scary for him.

The lesson learned - extort poor sick people with zero consequences, but if you steal from other rich people, something might happen to you.

This guy looks like he should control rats and fight spiderman. Have we checked to see if he has actual henchmen to bust him out? What assets does he have hidden in a secret lair under the sewers? Will the sinnister six just replace him, or is the shocker too busy?

phil said:

is the shocker too busy?

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Given Shkreli's personal character, any supervillain he hangs around with a name like "The Shocker" is a person I would prefer not to meet. Ever.

--Patrick

Martin Shkreli’s other pharma company is dramatically collapsing
You know, I feel for the unfortunate folks who were unwittingly/unwillingly swept up into this mess (because I assume there are some), but as for the man himself?


--Patrick

Charlie Don't Surf said:

The lesson learned - extort poor sick people with zero consequences, but if you steal from other rich people, something might happen to you.

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While I agree, under the current laws what he did to poor people was legal and what he did to the rich was against the law. I'm not saying that there SHOULDN'T be laws against the price hikes, but as of right now there's not.

The US really needs to take over health care in this country once and for all. Single payer, total control. That would dramatically bring down costs and make our healthcare system better.

Dave said:

Single payer, total control. That would dramatically bring down costs and make our healthcare system better.

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Well, there would certainly be the potential for that sort of change. We'll see what would happen in practice.

--Patrick

Dave said:

While I agree, under the current laws what he did to poor people was legal and what he did to the rich was against the law. I'm not saying that there SHOULDN'T be laws against the price hikes, but as of right now there's not.

The US really needs to take over health care in this country once and for all. Single payer, total control. That would dramatically bring down costs and make our healthcare system better.

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Seriously, really mean this, when has the government taken something on and the costs have gone down? They have NEVER been able to control their spending, because the bill never comes due while they (meaning ANY administration or congress session, and congress as a whole is most at fault about this) are "in charge." I'm not saying that something shouldn't be done, but our government, as a whole, is incapable of doing it.

Dave said:

While I agree, under the current laws what he did to poor people was legal and what he did to the rich was against the law. I'm not saying that there SHOULDN'T be laws against the price hikes, but as of right now there's not.

The US really needs to take over health care in this country once and for all. Single payer, total control. That would dramatically bring down costs and make our healthcare system better.

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It worked for the VA, right?

This thread really ought to be moved to the Rehash the Same Points Over and Over forum.

Gruebeard said:

This thread really ought to be moved to the Rehash the Same Points Over and Over forum.

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You ever go back to a thread, and find that it's got tangents comin' all out of it?

--Patrick

PatrThom said:

You ever go back to a thread, and find that it's got tangents comin' all out of it?

--Patrick

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That sounds like pretty much every thread I ever read.

PatrThom said:

You ever go back to a thread, and find that it's got tangents comin' all out of it?

--Patrick

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It chills me to this day.

If true, looks like he's just been conned out of $15 million.

Probably a cover story so he can hide his money before the courts take it all to pay back the folks he ripped off.

You can't cheat an honest man. -W.C. Fields

Zappit said:

Probably a cover story so he can hide his money before the courts take it all to pay back the folks he ripped off.

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There really isn't too much he can do about this unless he plans to pull a McAfee and live in the middle of nowhere like a warlord. If he tries to live anywhere NICE then he's going to have to keep a bank account and people WILL get his money.

BS. There's still plenty of quite nice places in the world without extradition, and with civil servants that are plenty willing to take a bribe for some fake credentials. Bob Bobbington from Argentina may look a lot like Shkreli and happen to be very rich, but as long as he stays out of the USA...Good luck proving it's the same guy. Sure, in Europe or America he could get his DNA checked and whatever. Outside of that, I doubt it.

Bubble181 said:

BS. There's still plenty of quite nice places in the world without extradition, and with civil servants that are plenty willing to take a bribe for some fake credentials. Bob Bobbington from Argentina may look a lot like Shkreli and happen to be very rich, but as long as he stays out of the USA...Good luck proving it's the same guy. Sure, in Europe or America he could get his DNA checked and whatever. Outside of that, I doubt it.

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That depends on your definition of "nice." Or more specifically, Shkreli's definition.

GasBandit said:

That depends on your definition of "nice." Or more specifically, Shkreli's definition.

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Considering he played League of Legends, I'm fairly sure his standards are a shade north of Hell.

Denbrought said:

Considering he played League of Legends, I'm fairly sure his standards are a shade north of Hell.

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That really one of the key basis for "paradise" these days, isn't it? Just how much is a good net connection worth to you?

AshburnerX said:

That really one of the key basis for "paradise" these days, isn't it? Just how much is a good net connection worth to you?

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(Note that my prior statement was a reference to how hellish the League of Legends community is perceived to be, filled to the brim with toxicity and rage)

Personally, I would trade some comfort (particularly in my budget for food, clothing, and entertainment) in order to retain use of computer equipment and internet connectivity. More if losing the internet connectivity had compounding effects, of course (like losing income).

If we're evaluating how much a "good" connection is worth, I strongly prefer to at least be able to do videocalling at 240p, receive ordinary webpages without timeouts, and have a constant enough connection that direct-downloading and ordinary SSH-type-connections are feasible. From there I would probably only sacrifice from my entertainment budget to improve it.

This is not because the Internet makes me happy, but because it's a really good multitool--it lets me speak to my family thousands of miles away as if they were in the next room, search for jobs, do my remote work, keep in touch with nearly everyone I want to, stay informed, entertain myself, etc.