Martin Shkreli Ran Companies ‘Like A Ponzi Scheme’ Prosecutor Charges (Video)

Reviled CEO Martin Shkreli’s management of his pharmaceuticals companies led to his arrest today on securities fraud charges.

Martin Shkreli ran his companies “like a ponzi scheme,” the U.S. Attorney said at a press conference explaining the charges against the Turning Pharmaceuticals and now-former Retrophin CEO this afternoon.

Shkreli, who came to national infamy after raising the price of a life-saving AIDS and cancer drug 5500%, was arrested this morning by the FBI while in his Manhattan apartment, on securities fraud charges. As the market opened, stock in one of Shkreli’s companies tanked before trading was halted, costing him an estimated $26 million.

Shkreli will be arraigned at 2:00 PM today.

The U.S. Attorney explained the charges today:

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Image: Screenshot via CNBC/Twitter