Martin Shkreli, also known as "Pharma Bro", is gaining even more light to his case now after he got his Twitter account hacked by an anonymous hacker posting statements related to his insensitive decisions in pricing life-saving drugs.
Shkreli is now facing a potential prison time for security-fraud charges.
Who is Martin Shkreli?
Shkreli was born in April 1983 and grew up in Brooklyn. His parents are originally from Albania and Croatia but migrated to the US before he was born.
Shkreli learned about biotech stocks at a very young age from a man who lived on the same building as he did. He bought stocks from Compaq at age 12 and Amazon at age 15.
At age sixteen, Shkreli dropped out from school, Hunter high school in New York, and applied as an intern at Berkowitz & Co. This was where young Shkreli caught the law enforcement unit's attention. After advising Berkowitz & Co. founder Jim Cramer to short a biotech stock, the stocks fell. Shkreli's coincidental advice alarmed the SEC but was cleared due to lack of evidence.
He founded his own hedge fund at 2009 and called it MSMB Capital Management which was all about shorting biotech stocks. After 3 years, he founded his own pharmaceutical company Retophin. Shkreli loss $7 million on the hedge fund for shorting biotech company Orexigen Therapeutics.
Shkreli continued to send progress reports to his investors even when he only had $60,000 worth of assets to his name. According to federal prosecutors, Shkreli has been paying off MSMB and his personal debts using Retrophin funds.
FBI confirms that Shkreli has been fabricating fake documents that falsely shows MSMB Capital's investment to Retrophin. Investors of the pharmaceutical company began to check on their investments to Shkreli and he settled with the investors for $11 million. The settlements were approved after Shkreli disguised them as consulting agreements to his auditor. Shkreli was voted out of the CEO position by the Retrophin board of directors.
In 2015, Shkreli was back in the biotech stock scene and founded Turing Pharmaceuticals and bought rights to the AIDS treatment drug Daraprim.
Last September of the same year, Shkreli became controversial after raising Daraprim's price from $13 to $750 per pill.
Shkreli's story is still developing and everyone is on the edge of their seats to see "pharma bro's" story will turn out.
Martin Shkreli' net worth is $100 million, according to Celebrity Net Worth.