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  • Turing Pharma close to replacing CEO Shkreli - WSJ Friday, 18 Dec 2015 | 11:21 AM ET

    Dec 18- Privately held drugmaker Turing Pharmaceuticals Inc is close to replacing Chief Executive Martin Shkreli, the Wall street Journal reported on Friday, a day after the FBI arrested him on charges of securities fraud. Shkreli was charged in a federal indictment on Thursday related to his time managing hedge fund MSMB Capital Management and CEO of...

  • Shkreli: The Bill Murray Wu-Tang clause Friday, 18 Dec 2015 | 5:30 AM ET
    Shkreli: The Bill Murray Wu-Tang clause

    The FBI tweeted that it didn’t seize Martin Shkreli’s Wu-Tang Clan album. Todd Cipperman, founding principal at Cipperman Compliance Services, weighs in on the evidence.

  • Pharma boss Martin Shkreli arrested Friday, 18 Dec 2015 | 5:30 AM ET
    Pharma boss Martin Shkreli arrested

    Martin Shkreli was arrested by the FBI amid an investigation concerning securities fraud charges. Todd Cipperman, founding principal at Cipperman Compliance Services, discusses.

  • Big U.S. pharmacies square off on Daraprim supplies Friday, 18 Dec 2015 | 1:00 AM ET

    Dec 18- As Turing Pharmaceuticals Chief Executive Officer Martin Shkreli contends with charges of securities fraud, major U.S. pharmacies are moving to assure patients of continued access to the company's key drug, Daraprim. CVS Health Corp, the No. 2 U.S. drug benefit manager, told Reuters on Thursday it can provide an alternative to Daraprim that is compounded...

  • NEW YORK, Dec 17- Martin Shkreli, the boyish pharmaceutical entrepreneur who caused a public uproar after he drastically raised the price of a life-saving prescription drug, was arrested on Thursday for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed.

  • Dec 17- A press conference announcing federal fraud charges against former hedge fund boss Martin Shkreli took an unusual turn Thursday with a question about a $2 million copy of a Wu-Tang clan album he bought in May. He spent the $2 million to "keep it from people," he said. Attorney Robert Capers told reporters, "We're not aware of where he got the funds that he raised...

  • WASHINGTON, Dec 17- LifeLock Inc, which sells identity theft monitoring and fraud detection services, has agreed to pay $100 million to settle charges that it failed to properly protect its customers' data, the Federal Trade Commission said on Thursday. The FTC had accused LifeLock, which is based in Tempe, Arizona, of violating a 2010 court order that required it to...

  • NEW YORK, Dec 17- Martin Shkreli, a lightning rod for growing outrage over soaring prescription drug prices, was arrested by the FBI on Thursday after a federal investigation involving his former hedge fund and a pharmaceutical company he previously headed. The securities fraud probe of Shkreli, who is now chief executive officer of Turing Pharmaceuticals and...

  • NEW YORK, Dec 17- Martin Shkreli, a lightning rod for growing outrage over soaring prescription drug prices, was arrested by the FBI on Thursday after a federal investigation involving his former hedge fund and a pharmaceutical company he previously headed. The securities fraud probe of Shkreli, who is now chief executive officer of Turing Pharmaceuticals and...

  • Dec 16- Two former hedge fund managers were sentenced to 45 months in prison, for misleading investors into investing more than $500 million in their fraudulent hedge fund business, said the U.S. Attorney's Office on Wednesday. Gabriel Bitran, 70, a former professor at the Massachusetts Institute of Technology and his son Marco Bitran, 40, a Harvard Business...

  • NEW YORK, Dec 16- A former president of a New York- based commodities investment pool was sentenced to 1-1/ 2 years in prison on Wednesday for conning investors into giving him $1.3 million under false pretenses. Michael James Seward, who had been a principal at the now-defunct SK Madison Commodities LLC, was sentenced by Manhattan U.S. Prosecutors said Seward and...

  • Dec 15- Three men were arrested on Monday for engaging in a wide-ranging hacking and spamming scheme that targeted personal information of 60 million people including Comcast customers, U.S. prosecutors announced Tuesday. Timothy Livingston, 30, Tomasz Chmielarz, 32, and Devin McArthur, 27, were named in an indictment filed in federal court in Newark, New...

  • Ex-Adelphia CEO seeks prison release due to cancer Tuesday, 15 Dec 2015 | 10:39 AM ET

    NEW YORK, Dec 15- Former Adelphia Communications Corp CEO John Rigas, who is serving a 12- year sentence for his role in a fraud that led to the cable company's collapse, is seeking release from prison due to his "precipitously deteriorating health." Lawyers for Rigas, who was convicted in 2004 for participating in a massive securities fraud, filed papers in federal...

  • Paramount, which is owned by Viacom Inc, welcomed the ruling by the 2nd U.S. Circuit Court of Appeals in New York that upheld the dismissal of a lawsuit in October 2014 against the company. Paramount counsel Richard Kendall said the company hoped the decision "finally puts the plaintiffs' meritless claims to rest." The lawsuit centered on about $40 million of the...

  • SAO PAULO, Dec 14- Brazilian prosecutors on Monday charged Jose Carlos Bumlai, a friend of former President Luiz Inacio Lula da Silva, with taking out a fraudulent loan from Schahin bank that they allege benefited the ruling Workers' Party. "Jose Carlos Bumlai was an operator for a political party, an operator for the Workers' Party," lead prosecutor Deltan Dallagnol...

  • AMSTERDAM, Dec 14- Dutch engineering firm Arcadis said on Monday it is giving information to Brazilian police in support of an investigation into suspected misuse of funds at a $6.4 billion water management project in northern Brazil. Arcadis, which has water management and mining industry contracts in Brazil, did not specify whether it may also be targeted in...

  • AMSTERDAM, Dec 14- Dutch engineering firm Arcadis said on Monday it was providing information to Brazilian police in support of an investigation into suspected misuse of funds at a major water management project in Northern Brazil. Arcadis did not specify whether it may also be targeted in the probe into the São Francisco project. The company said in a...

  • *Indian politician accuses Sonia and Rahul Gandhi of fraud. *Congress leadership duo summoned on Dec. 19. NEW DELHI, Dec 11- An anti-corruption crusader in Indian Prime Minister Narendra Modi's party has vowed to send opposition leaders Sonia and Rahul Gandhi to jail, denting already faint hopes of political compromise on a key tax reform.

  • NEW YORK, Dec 10- Tishman Construction Corp has agreed to pay $20.2 million to resolve a U.S. investigation into an alleged fraudulent overbilling scheme involving improper overtime payments to union workers, prosecutors said on Thursday. The settlement with Tishman, a unit of Aecom and one of the largest construction companies in New York City, will resolve...

  • NEW YORK, Dec 10- Tishman Construction Corp has agreed to pay about $20 million to resolve a U.S. investigation into an alleged fraudulent overbilling scheme involving improper overtime payments to union workers, a person familiar with the matter said on Thursday. In a document filed earlier this week in federal court in Brooklyn, New York, prosecutors said they...