Spy Car Posted December 17, 2015 Share Posted December 17, 2015 (edited) So this miserable excuse for a human being (who jacked up the price of a life-saving drug from $13.50 to $750 each) was jailed today on securities fraud charges. Not often that I'm happy to see someone headed to jail. This time is an exception. Bill Edited December 17, 2015 by Spy Car 40 Quote Link to comment Share on other sites More sharing options...
umsami Posted December 17, 2015 Share Posted December 17, 2015 Yes, rarely do I rejoice at somebody going to jail, but in this case, I'm thrilled. Couldn't be happier. Hope the charges stick. 8 Quote Link to comment Share on other sites More sharing options...
Laura Corin Posted December 17, 2015 Share Posted December 17, 2015 I cheered when I read the articles. 5 Quote Link to comment Share on other sites More sharing options...
Spryte Posted December 17, 2015 Share Posted December 17, 2015 This made me smile. Quote Link to comment Share on other sites More sharing options...
Posted December 17, 2015 Share Posted December 17, 2015 Indicted and arrested, but I doubt he's being held without bail. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted December 17, 2015 Share Posted December 17, 2015 I'm right there with all of you -- that guy is such a rotten, greedy, smug little weasel. I hope he is convicted. 7 Quote Link to comment Share on other sites More sharing options...
TechWife Posted December 17, 2015 Share Posted December 17, 2015 I was glad to hear this today as well. I am not at all surprised that someone who is fine with price gouging seems to also be fine with committing fraud. I would think that the judge would set bail at his hearing, but require he surrender his passport (if he has one). I hope justice moves swiftly. 7 Quote Link to comment Share on other sites More sharing options...
TechWife Posted December 17, 2015 Share Posted December 17, 2015 Indicted and arrested, but I doubt he's being held without bail. He hasn't been before a judge yet. From what I've read, that will happen later today. I expect the judge will set bail. I hope it's steep! 2 Quote Link to comment Share on other sites More sharing options...
Xuzi Posted December 17, 2015 Share Posted December 17, 2015 He hasn't been before a judge yet. From what I've read, that will happen later today. I expect the judge will set bail. I hope it's steep! Maybe a few thousand times more than it would usually be? :p 18 Quote Link to comment Share on other sites More sharing options...
JumpyTheFrog Posted December 17, 2015 Share Posted December 17, 2015 (edited) Maybe a few thousand times more than it would usually be? :p Yeah, it would serve him right. Then they should start charging outrageous amounts for food and water. Edited December 17, 2015 by HoppyTheToad 5 Quote Link to comment Share on other sites More sharing options...
BlsdMama Posted December 17, 2015 Share Posted December 17, 2015 I hope they nail the Makena folks next. http://www.forbes.com/sites/matthewherper/2015/10/23/suckers-that-1-a-pill-competitor-wont-hurt-martin-shkreli-one-bit/ Quote Link to comment Share on other sites More sharing options...
StephanieZ Posted December 17, 2015 Share Posted December 17, 2015 Kharma is a bitch. 6 Quote Link to comment Share on other sites More sharing options...
TechWife Posted December 17, 2015 Share Posted December 17, 2015 Maybe a few thousand times more than it would usually be? :p Maybe they will have frozen all of his bank accounts so he can't get to his money and has to stay in jail. Hmmm..... Quote Link to comment Share on other sites More sharing options...
plansrme Posted December 17, 2015 Share Posted December 17, 2015 I was glad to hear this today as well. I am not at all surprised that someone who is fine with price gouging seems to also be fine with committing fraud. I would think that the judge would set bail at his hearing, but require he surrender his passport (if he has one). I hope justice moves swiftly. Except that one practice is completely legal and, arguably, a service to his shareholders, but the other is fraud. Other than that ever so slight distinction, of course, they are exactly the same. Pharma is not in business to help people; they are not charities. Should he have jacked up the price so much that he brought such attention to himself? Perhaps not, but what he did was not illegal. His actions also may serve as a warming to consumers (insurers, the medical community) and competitors about the dangers of getting too comfortable and reliant upon a single treatment plan. Quote Link to comment Share on other sites More sharing options...
MrsBasil Posted December 17, 2015 Share Posted December 17, 2015 Ha ha! /Nelson Muntz 2 Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted December 17, 2015 Share Posted December 17, 2015 I read that first thing this morning. Couldn't have happened to a nicer guy. 2 Quote Link to comment Share on other sites More sharing options...
TravelingChris Posted December 17, 2015 Share Posted December 17, 2015 wonderful Quote Link to comment Share on other sites More sharing options...
creekland Posted December 17, 2015 Share Posted December 17, 2015 Add me to those who smiled and hope the charges stick - with an appropriate punishment rather than just a fine of some sort. 2 Quote Link to comment Share on other sites More sharing options...
Stacia Posted December 17, 2015 Share Posted December 17, 2015 Not surprised that he made bail ($5 million). He's out for now anyway. Quote Link to comment Share on other sites More sharing options...
BigMamaBird Posted December 17, 2015 Share Posted December 17, 2015 I know I shouldn't laugh at another's misfortune, but that guy is so spectacularly skeezy, I just can't help it. 3 Quote Link to comment Share on other sites More sharing options...
Mimm Posted December 17, 2015 Share Posted December 17, 2015 Couldn't have happened to a nicer guy. :p Quote Link to comment Share on other sites More sharing options...
December Posted December 17, 2015 Share Posted December 17, 2015 Except that one practice is completely legal and, arguably, a service to his shareholders, but the other is fraud. Other than that ever so slight distinction, of course, they are exactly the same. Pharma is not in business to help people; they are not charities. Should he have jacked up the price so much that he brought such attention to himself? Perhaps not, but what he did was not illegal. His actions also may serve as a warming to consumers (insurers, the medical community) and competitors about the dangers of getting too comfortable and reliant upon a single treatment plan. Something can be immoral without being illegal. 12 Quote Link to comment Share on other sites More sharing options...
Audrey Posted December 18, 2015 Share Posted December 18, 2015 So this miserable excuse for a human being (who jacked up the price of a life-saving drug from $13.50 to $750 each) was jailed today on securities fraud charges. Not often that I'm happy to see someone headed to jail. This time is an exception. Bill Yes, this particular dish of Schadenfreude is extra tasty. 1 Quote Link to comment Share on other sites More sharing options...
Audrey Posted December 18, 2015 Share Posted December 18, 2015 Not surprised that he made bail ($5 million). He's out for now anyway. Maybe they should have marked that up 5000%. 6 Quote Link to comment Share on other sites More sharing options...
TechWife Posted December 18, 2015 Share Posted December 18, 2015 Except that one practice is completely legal and, arguably, a service to his shareholders, but the other is fraud. Other than that ever so slight distinction, of course, they are exactly the same. Pharma is not in business to help people; they are not charities. Should he have jacked up the price so much that he brought such attention to himself? Perhaps not, but what he did was not illegal. His actions also may serve as a warming to consumers (insurers, the medical community) and competitors about the dangers of getting too comfortable and reliant upon a single treatment plan. Yes, but legal and ethical are two different concepts. To one who thinks the law should be followed, those who do not follow it are unethical. However, one who follows the law is not necessarily ethical. For example, it wasn't illegal to own slaves. However, it was unethical. One can follow fhe letter of the law, in this case, raise the price of the medication in order to maximize profits, but that doesn't mean it was ethical for the drug to be financially beyond the reach of the people who need it. 2 Quote Link to comment Share on other sites More sharing options...
TechWife Posted December 18, 2015 Share Posted December 18, 2015 (edited) The judge "approved his release" on a $5 million bond. http://money.cnn.com/2015/12/17/news/companies/martin-shkreli-arrest-reports/index.html ETA: Does this mean he is out because he came up with the $5 million, or does it mean he can get out if he can fork over the $5 million? How do bonds work? Are they different than bail? Edited December 18, 2015 by TechWife Quote Link to comment Share on other sites More sharing options...
JennyD Posted December 18, 2015 Share Posted December 18, 2015 Slate has a good overview of the circumstances leading up to his arrest. http://www.slate.com/blogs/moneybox/2015/12/17/why_martin_shkreli_was_arrested_for_securities_fraud.html 1 Quote Link to comment Share on other sites More sharing options...
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