Martin Shkreli Is Down And Out From His CEO Position At Turing Pharma

Turing Pharmaceutical CEO Martin Shkreli Arrested For Securities Fraud
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Martin Shkreli, the allegedly fraudulent “pharma bro” and star of gloaty livestreams, has been knocked down several pegs after his arrest. The good news is that he will no longer have the opportunity to exponentially inflate prices on life-saving drugs. The 32-year-old has formally stepped down as the Turing Pharma CEO.

The move comes after this morning’s statement by Shkreli’s team, which vowed their man would be vindicated. Shkreli strongly denies all charges of fraud: “Ponzi victims do not make money, yet Mr. Shkreli’s investors enjoyed strong results.” And “it is no coincidence” that charges have been filed after widespread criticism of Turing Pharma’s “controversial” actions, which Shkreli says are “unrelated” to the securities fraud charges.

Meanwhile, Shkreli still stands as the butt of FBI jokes over the Wu-Tang album (which may be cursed, or perhaps Shkreli is simply a terrible person). With the firestorm of fraud charges swirling, Shkreli had no choice but to step down. Here are some thoughtful words from his replacement, Ron Tilles:

“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 endeavors. At the same time, I am very excited about the opportunity to guide Turing Pharmaceuticals forward.”

Buh-bye. Shkreli should simply be grateful to be out of jail. Oh, and he’s still got the $2 million Wu-Tang Clan album, so life is okay?

Twitter greeted the announcement as expected.

(Via USA Today)