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Martin Shkreli, the reviled CEO and founder of Turing Pharmaceuticals, has been arrested by the FBI amid a security fraud probe, according to Reuters. Shkreli is expected to be charged Thursday for illegally using assets from a biopharmaceutical company he once headed, Retrophin, to pay off the debts of MSMB Capital Management, where he was a former hedge fund manager.
The board of Retrophin fired Shkreli, 32, a year ago and sued him for breaching his duty of loyalty to the company, which Shkreli founded in 2011. And the federal investigation dates to at least the start of the year, Reuters reports. In January, Retrophin received a subpoena from federal prosecutors in Brooklyn.
Reuters reports witnessing the arrest of the embattled CEO at his midtown apartment. A hoodie-wearing Shkreli was escorted by law enforcement and FBI agents into a car.
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