Business News Martin Shkreli

Notorious drug-company fraudster Martin Shkreli has been removed from a federal prison in Fort Dix, New Jersey, after claims that he was running his pharmaceuticals firm Phoenixus while locked up with the help of a contraband cellphone.

To many, the character of Barry Cohen in Shteyngart's new novel, "Lake Success," will bear some resemblances to hedge fund titans like Steve Cohen or Bill Ackman. 

Rep. Francis Rooney, a Republican, just signed on to the FAIR Drug Pricing Act, a bill that requires basic transparency for pharmaceutical companies that drastically spike the price of a drug.

The Food and Drug Administration is forming a working group to consider allowing short-term importation of foreign versions of medicines facing “access dislocations.”

New York's attorney general said state tax authorities are entitled to first dibs on more than $480,000 out of the nearly $7.4 million Shkreli was ordered to forfeit as regulators reveal Shrkreli had agreed to be barred from the securities industry.

Shkreli had asked for a minimum security camp to complete his seven-year sentence for defrauding hedge-fund investors and manipulating the stock of the drug company Retrophin.

Shkreli, who raised the price of the drug Daraprim by more than 5,000 percent, has been locked up since offering a bounty to his Facebook followers for strands of Hillary Clinton's hair.

Shkreli, who gained infamy for raising the price of the drug Daraprim by more than 5,000 percent, has been locked up since offering a bounty for hair stolen by Facebook followers from the head of Hillary Clinton.

Martin Shkreli was sentenced to seven years in prison for securities fraud charges related to a drug company he founded and two hedge funds he had run.

Shkreli wants to serve his seven-year prison sentence at the minimum-security camp at Canaan Federal Penitentiary in Pennsylvania.

Shkreli was convicted last summer of securities fraud charges linked to hedge funds and a drug company he founded.