Disgraced pharma magnate Martin Shkreli defaulted to his defense-by-Twitter ways on Saturday to label allegations of fraud lobbed against him as “baseless and without merit.”
Shkreli, 32, was arrested Thursday by the FBI on seven counts related to “widespread” securities fraud through a hedge fund and drug company he once ran.
An indictment said Shkreli and others orchestrated three interrelated scams from September 2009 through September 2014. Prosecutors allege that he designed a “Ponzi-like scheme” in which he illegally used assets from a biopharmaceutical company that he founded, Retrophin Inc., to pay off debts from a hedge fund he also managed.
Retrophin had. . .
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