Crime Investment Fraud

More

  • Dec 20- Martin Shkreli, the pharmaceutical executive facing U.S. charges of securities fraud, lost control of his Twitter account to hackers on Sunday, hours after he took to Twitter to plead his innocence, his spokesman said. "It was hacked," Craig Stevens, a spokesman for the former chief executive of Turing Pharmaceuticals, said in an email. "We have been working with...

  • Dec 18- Martin Shkreli, the poster boy for large prescription drug price increases, has stepped down as chief executive of Turing Pharmaceuticals, the company said on Friday, following his arrest for securities fraud earlier this week. They co-founded another pharmaceutical company, Retrophin Inc, that is at the center of the securities fraud charges against...

  • Dec 18- Martin Shkreli, the poster boy for prescription drug price increases who was arrested for securities fraud this week, has stepped down from his post as chief executive officer of Turing Pharmaceuticals Inc, the company said on Friday. Shkreli has been under investigation for securities fraud related to hedge fund MSMB Capital Management and...

  • 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...

  • 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...

  • 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.

  • 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...

  • Turing's Martin Shkreli arrested by FBI Thursday, 17 Dec 2015 | 8:01 AM ET
    Martin Shkreli, chief executive officer of Turing Pharmaceuticals LLC, center, and attorney Evan Greebel, left, exit federal court in New York, U.S., on Thursday, Dec. 17, 2015.

    CNBC's Meg Tirrell reports the latest details on the arrest of Turing Pharma CEO Martin Shkreli.

  • 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...

  • Turing founder Martin Shkreli arrested on security fraud: Report

    Turing Pharma CEO Martin Shkreli was arrested by the FBI on charges of taking stock from a firm he founded and using it to pay off debts from unrelated business transactions.

  • 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...

  • Watch out! Holiday scams are tricky this year Friday, 4 Dec 2015 | 11:00 AM ET
    Christmas tipping money

    Be careful of the naughty Santas this holiday season—their scams can be quite convincing, says ex USTC chief Bart Chilton.

  • NEW YORK, Dec 2- A cooperating witness in a long-running U.S. investigation into insider trading at hedge funds including SAC Capital Advisors was sentenced to 21 days in prison on Wednesday, a term his lawyer called "unfair" given his assistance to authorities. Richard Choo-Beng Lee, who co-founded Spherix Capital and once was an analyst at SAC Capital, was also...

  • NEW YORK, Dec 2- A cooperating witness in a long-running U.S. investigation into insider trading at hedge funds including SAC Capital Advisors was sentenced to 21 days in prison on Wednesday, a term his lawyer called "unfair" given his assistance to authorities. Richard Choo-Beng Lee, who co-founded Spherix Capital and once was an analyst at SAC Capital, was also...

  • Dec 1- Two bitcoin mining companies and their founder used the lure of quick riches from virtual currency to defraud investors in a $20 million Ponzi scheme, the U.S. Securities and Exchange Commission said on Tuesday. The commission charged GAW Miners LLC, ZenMiner LLC and founder Homero Garza with civil fraud, according to a complaint filed in the U.S. District...

  • SANTIAGO, Nov 26- Chile's financial regulator said on Thursday it had fined Santiago- based businessman Juan Bilbao Hormaeche some $3.2 million for using insider information to trade shares of drug company CFR Pharmaceuticals SA. The move came about a month after the U.S. Securities and Exchange Commission reached a $13.2 million dollar settlement with...

  • *No showing that Herbalife intended to defraud. *William Ackman made $1 billion bet against Herbalife. The lawsuit is separate from the campaign against Herbalife by billionaire activist investor William Ackman of Pershing Square Capital Management LP, who in December 2012 announced a $1 billion bet against the Los Angeles- based company.

  • SHANGHAI, Nov 25- China's securities association said on Wednesday CITIC Securities had inaccurately inflated its derivative business by 1.06 trillion yuan in a report submitted in September. The news comes after probes into China's largest brokerage led four of its senior executives to confess to insider trading. In its monthly report to the securities...

  • Those trades occurred from July to October, the SEC said, most recently enabling Han to earn $397,000 trading ahead of news last month that Goldman client Lam Research Corp had agreed to buy KLA-Tencor Corp in a $10.6 billion deal. A day after that deal was announced and Han had liquidated KLA-Tencor call options he had bought beforehand, the Goldman employee...