Connect with us

Drug Price Gouging ‘Pharma Bro’ Martin Shkreli Arrested By FBI For Securities Fraud

Published

on

The man who raised the price of a life-saving AIDS and cancer drug 5500% was just arrested for something entirely unrelated to his drug price gouging.

Turing Pharmaceuticals CEO Martin Shkreli was arrested by the FBI early Thursday morning on securities fraud charges. The 32-year old fast-playing former hedge fund manager wunderkind turned drug company chief earned him the nickname “pharma-bro.”  Shkreli became known nationwide after purchasing the rights to a little-known and old but life-saving drug, and increasing the price from $13.50 a pill to $750 a pill, a 5500% increase. That drug, Daraprim, Shkreli admitted, costs about $1 to make.

Shkreli has been the target of a federal investigation since at least January. The case involves a company he founded, Retrophin, from which he was later fired.

UPDATE: Bigger Than Trump: 9 Things About Martin Shkreli That Happened Today After He Was Arrested

“Prosecutors charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it pay off debts from unrelated business dealings. He was later ousted from the company, where he’d been chief executive officer, and sued by its board,” Bloomberg Business reports.

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

Federal prosecutors “accused Shkreli of engaging in a complicated shell game after his defunct hedge fund, MSMB Capital Management, lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements.”

Shkreli, who initially had refused to lower the price of Daraprim several months ago, ultimately conceded after national disgust forced him to give in. He promised to lower the cost within a month, but would not say by how much. He later reneged on that public promise. 

UPDATE: Martin Shkreli Loses $26 Million After Being Arrested

More recently, Shkreli made headlines for being the sole purchaser of the only copy of a new Wu-Tang Clan album. The price? Two million dollars.

And this week news broke that Shkreli was repeating his scheme of price gouging with another life-saving drug, Benznidazole, which is used by 300,000 patients to battle the deadly parasitic infection known as Chagas disease. The World Health Organization put Benznidazole on its list of essential medicines.

 

 

Continue Reading
Click to comment
 
 

Enjoy this piece?

… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.

NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.

News

Peter Navarro’s Latest Attempt to Get Out of Jail Smacked Down by SCOTUS

Published

on

Former top Trump White House advisor Peter Navarro, in prison for criminal contempt of Congress, has failed in his latest attempt to be released early, after the U.S. Supreme Court once again denied his request.

Navarro, 74, the first and only former White House official ever to be imprisoned for contempt of Congress, is serving out his four-month sentence in Miami. His efforts to stay out of jail were first denied by Chief Justice John Roberts, before he reported to the prison in mid-March. He was found guilty in September after a short trial. After his arrest he hawked his book and begged for money on national television.

CBS News reports “15 days into his sentence, Navarro renewed his request to halt his surrender to Justice Neil Gorsuch, which is allowed under Supreme Court rules. His bid for emergency relief was referred to the full court, which denied it. There were no noted dissents. Attorneys for Navarro declined to comment.”

CNN called the decision to petition Justice Gorsuch “a procedural maneuver that has not worked in decades.”

RELATED: ‘Bro, You’re Already Facing Charges’: Protestor Mocks Peter Navarro as He Tries to Grab ‘Trump Lost’ Sign

“Gorsuch referred the request to the full court, which considered it during its closed door conference on Friday. The court denied the request on Monday without comment.”

Navarro’s prison sentence is the result of his refusal to comply with a subpoena issued by the U.S. House Select Committee on the January 6 Attack. Navarro claims he had executive privilege, but offered no proof, and refused to show up as ordered.

Legal experts accurately had predicted a “quick conviction” after Navarro, called a “conspiracy theorist” who promotes “fringe” economic theories, had called no witnesses. The jury deliberated for under five hours. He faced up to two years in prison.

CBS News adds Navarro “is not the only member of the Trump administration to be convicted of the charge. Steve Bannon, former White House chief strategist, was found guilty of two counts of contempt of Congress and sentenced to four months in prison. The judge overseeing that case, however, put his prison term on hold while Bannon appeals.”

READ MORE: Noem Doubles Down With ‘Legal Cover’ For Shooting Her Puppy to Death

 

 

Continue Reading

News

Noem Doubles Down With ‘Legal Cover’ For Shooting Her Puppy to Death

Published

on

South Dakota Republican Governor Kristi Noem has been under bipartisan fire since Friday after an excerpt from her soon-to-be published book reveals her bragging about shooting to death her 14-month old puppy, and later that day, a goat. Noem, considered at least until last week a top contender to be Donald Trump’s vice presidential running mate, is doubling-down defending herself but now she’s serving up some “legal cover” as well.

“I can understand why some people are upset about a 20 year old story of Cricket, one of the working dogs at our ranch, in my upcoming book — No Going Back. The book is filled with many honest stories of my life, good and bad days, challenges, painful decisions, and lessons learned,” she wrote on Sunday, after The Guardian‘s damning report. “The fact is, South Dakota law states that dogs who attack and kill livestock can be put down. Given that Cricket had shown aggressive behavior toward people by biting them, I decided what I did.”

Law & Crime on Monday reports the governor is “providing herself legal cover for the act.”

Noem “acknowledged that ‘some people’ were upset about the story — and she specified that it happened two decades ago, seeming to place the incident well beyond the statute of limitations.”

RELATED: Noem Defends Shooting Her 14-Month Old Puppy to Death, Brags She Has Media ‘Gasping’

“Noem additionally cited South Dakota law in support of her decision,” Law & Crime adds, noting the “reported book excerpt had said that Cricket tried to bite Noem and attacked her chickens.”

“The fact is, South Dakota law states that dogs who attack and kill livestock can be put down,” Noem wrote, an apparent attempt to preempt any possible legal issues. “Given that Cricket had shown aggressive behavior toward people by biting them, I decided what I did.”

Law & Crime explains that “South Dakota notes that an exemption to animal cruelty laws is the ‘destruction of dangerous animals.’ The law specifies that ‘[a]ny humane killing of an animal’ and ‘[a]ny reasonable action taken by a person for the destruction or control of an animal known to be dangerous, a threat, or injurious to life, limb, or property’ are exempt from prosecution.”

Noting that Noem’s attempt “to lean into the right’s embrace of political incorrectness … didn’t fly with members of her own party,” The Daily Beast pointed to well-known Republicans including former Trump White House communications director Alyssa Farrah Griffin and Meghan McCain who publicly condemned Noem’s actions.

READ MORE: President Hands Howard Stern Live Interview After NY Times Melts Down Over Biden Brush-Off

The Guardian’s excerpt from Noem’s book does not state that Cricket bit people, although Noem states Cricket “whipped around” to bite her. It’s possible biting others is in the book but did not make it into The Guardian’s report.

Describing Cricket killing chickens, Noem “grabbed Cricket, she says, [and] the dog ‘whipped around to bite me’. Then, as the chickens’ owner wept, Noem repeatedly apologised, wrote the shocked family a check ‘for the price they asked, and helped them dispose of the carcasses littering the scene of the crime’.”

“Through it all, Noem says, Cricket was ‘the picture of pure joy’,” The Guardian reports. “’I hated that dog,’ Noem writes, adding that Cricket had proved herself ‘untrainable’, ‘dangerous to anyone she came in contact with’ and ‘less than worthless … as a hunting dog’.”

Meanwhile, MSNBC’s “Morning Joe” co-hosts Joe Scarborough and Mika Brzezinski on Monday said Noem’s pride and decision making surrounding killing the puppy make her unfit to be “in charge.”

Describing how she grew up on a family farm, Brzezinski said they hunted, and “there was absolutely a dense of life and death.” There was “never a joy in killing and there was a respect to it, and a process if you were hunting.”

READ MORE: CNN Smacks Down Trump Rant Courthouse So ‘Heavily Guarded’ MAGA Cannot Attend His Trial

“But this story was more about how she felt killing an animal, and that’s what’s scary about it – the impatience, kind of like a switch flipped in her brain and she decided she needed to kill it? Like this is not someone you want in charge, not someone thinking through the process of life and death.”

“The most remarkable part of it,” Scarborough added, “is that the conservative movement has been so corrupted by Donald Trump and his reached such new lows, that she actually put that in, about the killing of a happy puppy because she thought it would help her with the base.”

Watch below or at this link.

Continue Reading

OPINION

Noem Defends Shooting Her 14-Month Old Puppy to Death, Brags She Has Media ‘Gasping’

Published

on

Republican Governor Kristi Noem of South Dakota, a top potential Trump vice presidential running mate pick, revealed in a forthcoming book she “hated” her 14-month old puppy and shot it to death. Massive online outrage ensued, including accusations of “animal cruelty” and “cold-blooded murder,” but the pro-life former member of Congress is defending her actions and bragging she had the media “gasping.”

“Cricket was a wirehair pointer, about 14 months old,” Noem writes in her soon-to-be released book, according to The Guardian which reports “the dog, a female, had an ‘aggressive personality’ and needed to be trained to be used for hunting pheasant.”

“By taking Cricket on a pheasant hunt with older dogs, Noem says, she hoped to calm the young dog down and begin to teach her how to behave. Unfortunately, Cricket ruined the hunt, going ‘out of her mind with excitement, chasing all those birds and having the time of her life’.”

“Then, on the way home after the hunt, as Noem stopped to talk to a local family, Cricket escaped Noem’s truck and attacked the family’s chickens, ‘grabb[ing] one chicken at a time, crunching it to death with one bite, then dropping it to attack another’.”

READ MORE: President Hands Howard Stern Live Interview After NY Times Melts Down Over Biden Brush-Off

“Cricket the untrainable dog, Noem writes, behaved like ‘a trained assassin’.”

Except Cricket wasn’t trained. Online several people with experience training dogs have said Noem did everything wrong.

“I hated that dog,” Noem wrote, calling the young girl pup “untrainable,” “dangerous to anyone she came in contact with,” and “less than worthless … as a hunting dog.”

“At that moment,” Noem wrote, “I realized I had to put her down.”

“It was not a pleasant job,” she added, “but it had to be done. And after it was over, I realized another unpleasant job needed to be done.”

The Guardian reports Noem went on that day to slaughter a goat that “smelled ‘disgusting, musky, rancid’ and ‘loved to chase’ Noem’s children, knocking them down and ruining their clothes.”

She dragged both animals separately into a gravel pit and shot them one at a time. The puppy died after one shell, but the goat took two.

On social media Noem expressed no regret, no sadness, no empathy for the animals others say did not need to die, and certainly did not need to die so cruelly.

READ MORE: ‘Assassination of Political Rivals as an Official Act’: AOC Warns Take Trump ‘Seriously’

But she did use the opportunity to promote her book.

Attorney and legal analyst Jeffrey Evan Gold says Governor Noem’s actions might have violated state law.

“You slaughtered a 14-month-old puppy because it wasn’t good at the ‘job’ you chose for it?” he asked. “SD § 40-1-2.3. ‘No person owning or responsible for the care of an animal may neglect, abandon, or mistreat the animal.'”

The Democratic National Committee released a statement saying, “Kristi Noem’s extreme record goes beyond bizarre rants about killing her pets – she also previously said a 10-year-old rape victim should be forced to carry out her pregnancy, does not support exceptions for rape or incest, and has threatened to throw pharmacists in jail for providing medication abortions.”

Former Trump White House Director of Strategic Communications Alyssa Farah Griffin, now a co-host on “The View” wrote, “There are countless organizations that re-home dogs from owners who are incapable of properly training and caring for them.”

The Lincoln Project’s Rick Wilson blasted the South Dakota governor.

“Kristi Noem is trash,” he began. “Decades with hunting- and bird-dogs, and the number I’ve killed because they were chicken-sharp or had too much prey drive is ZERO. Puppies need slow exposure to birds, and bird-scent.”

“She killed a puppy because she was lazy at training bird dogs, not because it was a bad dog,” he added. “Not every dog is for the field, but 99.9% of them are trainable or re-homeable. We have one now who was never going in the field, but I didn’t kill her. She’s sleeping on the couch. You down old dogs, hurt dogs, and sick dogs humanely, not by shooting them and tossing them in a gravel pit. Unsporting and deliberately cruel…but she wrote this to prove the cruelty is the point.”

Melissa Jo Peltier, a writer and producer of the “Dog Whisperer with Cesar Millan” series, also heaped strong criticism on Noem.

“After 10+ years working with Cesar Millan & other highly specialized trainers, I believe NO dog should be put down just because they can’t or won’t do what we decide WE want them to,” Peltier said in a lengthy statement. “Dogs MUST be who they are. Sadly, that’s often who WE teach them to be. And our species is a hot mess. I would have happily taken Kristi Noem’s puppy & rehomed it. What she did is animal cruelty & cold blooded murder in my book.”

READ MORE: ‘Blood on Your Hands’: Tennessee Republicans OK Arming Teachers After Deadly School Shooting

Continue Reading

Trending

Copyright © 2020 AlterNet Media.