Martin Shkreli being taken into custody by FBI agents. Photo / AP
Martin Shkreli being taken into custody by FBI agents. Photo / AP
The hated pharmaceutical executive who hiked the price of an essential drug by 5000 per cent has likened himself to Robin Hood, John D Rockefeller, and the robber barons.
Martin Shkreli, 32, insists he finds it 'fun' to read the tsunami of hateful tweets racked up in his 'mentions' column on Twitter.
And he claims his price-gouging is no different to the inflated price of a Disney World entry ticket over the past four decades.
"I don't mean to be presumptuous, but I liken myself to the robber barons," he told Vanity Fair in an astonishing interview before he was arrested and charged with fraud on Friday.
"Everything we've done is legal. Rockefeller made no attempt to apologise as long as what he was doing was legal."
Shkreli gained infamy as CEO of Turing Pharmaceuticals by unapologetically increasing the price of Daraprim from $13.50 a tablet to $750.
He then bought the Wu-Tang Clan's one-of-a-kind secret album encased in a hand-crafted bejewelled silver box, out-bidding billionaires across the globe.
Finally, he was arrested on Friday, charged with fraud, and stepped down from his job - prompting celebrations on social media across the world.
Martin Shkreli raised the price of Daraprim from US$13.50 a tablet to US$750 after acquiring the drug. Pictures / AP
In a series of interviews over recent weeks, the hated executive told Vanity Fair his real intention is to develop drugs to combat rare diseases.
To do so, he says, he felt it necessary to dramatically increase the price of Daraprim, which is on the World Health Organisation's list of essential medicines.
"I'm like Robin Hood. I'm taking Walmart's money and doing research for diseases no one cares about."
Reacting to his reputation as 'the most hated man in America', Shkreli is nonchalant, according to Vanity Fair's Bethany McLean.
He laughs about politicians, who he says are simply using him to boost their own campaign profile.
When Bernie Sanders criticised him for the Daraprim price hike, Shkreli donated to his campaign.
When Donald Trump called him a "brat", Shkreli said: "My parents were immigrants and janitors. [Trump] inherited wealth! F*** him. And I thought we could be friends."
He pleaded not guilty on Friday to charges of securities fraud, securities fraud conspiracy, and wire fraud conspiracy for orchestrating three interrelated schemes: schemes to defraud investors in MSMB Capital and MSMB Healthcare and a scheme to misappropriate Retrophin's assets.
His lawyer Evan Greebel is charged with wire fraud conspiracy for his role in the Retrophin scheme.
It is alleged he illegally used stock from the biotechnology firm Retrophin Inc. to pay off debts related to his struggling hedge fund MSMB and to pay back angry investors.
He faces a maximum sentence of 20 years in prison if convicted on all seven counts.
He is due in court again on January 20.
On Friday, it was announced that Shkreli would be stepping down as CEO of Turing Pharmaceuticals, the company he founded.
"We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research-focused company it is today, and wish him the best in his future endeavours," said chairman Ron Tilles, who is serving as interim CEO.
Martin Shkreli:
• Former hedge fund manager accused of stealing US$11 million.
• FBI describes case as a "securities fraud trifecta of lies, deceit and greed".
