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Martin Shkreli has been arrested for paying off debts with stock he illegally took from a biotech firm that he started.

We know Shkreli as the Wu-Tang Clan album buyer, as he purchased the group’s secret Once Upon A Time In Shaolin album for $2 million just months ago.

From TMZ:

Martin Shkreli — the hated pharmaceutical exec who dropped $2 mil for a Wu-Tang Clan album — got busted by the FBI for securities fraud.

The feds arrested Shkreli early Thursday morning in Manhattan. The 32-year-old was already one of the most reviled and envied men in the country for inflating the price on an HIV/cancer treatment from ¬†$13.50 per pill to $750 per pill — and envied for buying Wu-Tang’s top secret “Once Upon a Time in Shaolin” record a few months ago.

The ex-hedge fund manager has been charged for illegally taking stock from a biotech firm he started, and using it to pay off debts from other biz deals …¬†according to Bloomberg.

Apparently, one of his next stunts would have been bailing out Bobby Shmurda. We ain’t mad at that. Leave your thoughts below.


FBI Arrests Wu-Tang Clan Album Buyer For Securities Fraud  was originally published on globalgrind.com