Securities and wire fraud charges from prior employers, MSMB Capital Management (hedge funds out $7 million and prior compliant on file for misuse of funds) and Retrophin Inc. where he was displaced for reallocation of company funds / equity investment to payoff other business deals to the tunes of around $65 million. Recall news regarding price gouging / hike from $13 to $750 (nearly $100,000 per year) for Daraprim, a life-saving pill – due in part, citing funding for drug research and development programs for the anti-parasite tablet. He was able to gain control of KaloBios Pharmaceuticals Inc. as a result but of course, shares fall 50% in light news.
The savvy business entrepreneur with self-thought medical / biology knowledge and a keen financial eye had recently purchased license for benznidazole, a treatment for parasitic infection. But this seems more made for TV, working-class roots of Brooklyn youngster to billion dollar financial wheeling-and-dealing executive and drug hiking CEO - with an arrogance that caught political notoriety and now, lawyered up.
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ReplyDeleteThanks for the comment! Latest pertaining to this article - we all want to be in the spotlight just not like the former / infamous CEO who's going to take the 5th Amendment before Congress, yet continues to email his former Pharma company about profits and “$1 bn here we come.”
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