UPDATED: #FAKEHACK This Elf, Martin Shkreli, is finally on a SEC Shelf: Pharma CEO Arrested on Securities Fraud
UPDATED: December 18, 2015
UPDATED: December 21, 2015 #FakeHack
Martin Shkreli quits as Turing CEO
The media was ready for Shkreli’s arrest why weren’t they for Johnson & Johnson Ethicon Acclarent arrested & indicted executives?
Maybe the FBI should alert the media before all white collar crime arrests because without the media shaming shareholders, indicted executives like former Johnson & Johnson Ethicon Acclarent’s William (Bill) Facteau now CEO of EarLens and Patrick (Pat) Fabian now CCO of NxThera, keep their positions at the continued expense of taxpayers.
December 17, 2015
Who didn’t see this coming? Martin Shkreli the elfish-looking CEO best known for pricing jacking pharmaceuticals, buying the only copy of Wu Tang Clan’s album for $2 million, and recently referring to himself as the most successful Albanian (umm Mother Teresa was Albanian), was arrested early Thursday morning on securities fraud.
Almost like I had a crystal ball, 18 hours before his arrest I mentioned if you worked in pharma, med device or for a startup you’ve worked for someone just like Shkreli; and not unlike the startup executives I worked for who were arrested earlier this year, Shkreli got arrested today.
Shkreli refers to himself as a #God. He’s joined the #GodsOfFrauds (which is like being called a basic bitch for criminals). The internet is all a clamor that Martin Shkreli’s Twitter account was hacked and I ask, how can you tell?
Click below for on #FakeHack, to see comparison of supposed pre and post hacked tweets to see if you can tell the difference; and watch how the media helped Martin Shkreli erase negative SEO from his past using the word hack(ed):
#FakeHack
PRSPin: Martin Shkreli was hacked
PRSpinUNSpun:
#FakeHack often used by unethical to help abuser look like victim: Martin Shkreli
New hack story erases negative old hacking story where he was accused of harassing an employee
This “hack” removes the old negative SEO about Shkreli off the first page of SEO. Good job media!
The Sociopathic Business Model™ shows that it’s inconsistent & contradictory language to action that someone accused of hacking (Shkreli) wouldn’t know he was at risk for being hacked and wouldn’t take steps to prevent him from happening.
The media just got duped into helping Shkreli from erasing the old SEO that accused him of wrongdoing into making Shkreli (the accused abuser) looking like a victim while revictimizing the real victims, Timothy Pierotti, and his family. Pay attention media!
UPDATED:
In court Thursday afternoon, Shkreli was led into the Brooklyn courtroom wearing wear a black T-shirt, jeans, sneakers and handcuffs. He was calm throughout the hearing, smiling and occasionally winking at family members in the courtroom.
U.S. Magistrate Judge Robert Levy approved his release on a $5 million bond. The judge set $1 million bail for the co-defendant in the case, Evan Greebel, 42. CNNMoney
Photo credit Kate McKinney
Finally! This elf is on the SEC shelf where he belongs! And thanks to Haven Kimmel for coming up with the idea of elfling Shkreli. I was thinking more along the lines of the dentist from Island of Misfit Toys, but someone on here already self-appropriated that name.
Shkreli joins the every growing list of other executives from the industry who were arrested earlier this year. Santa’s naughty list is shaping up as great news for all the good little taxpayers and shareholders this year!
DOJ Yates Memo in action William Facteau currently of EarLens also released on $5 million bond and Patrick Fabian currently of NxThera released on $500,000 bond in April 2015. Facteau’s trial date set for May 2016 not date yet set for Fabian.
Click below if you’d like more information booking & bonding process:
Bonding-out
Here’s the link to the SEC press release regarding Martin Shkreli, remember to read this as government PRSpin, just like the case study below tried to distance Johnson & Johnson Ethicon for Acclarent from earlier this year. Read between the lines there’s always more going on behind the scenes. In Shkreli’s case, this is at the conclusion of a five-year investigation, what’s not clear is if this was part of a whistleblower case.
Acclarent CEO from 2004 until November 2011 William (Bill) Facteau, Atherton, CA made $30 million of the sale of the company and was taken into federal custody on Thursday, April 9, 2015 and paperwork was released on Tuesday, April 14, 2015 after posting a $5 million bond*. Acclarent VP of Sales and Marketing from 2007-until November 2011 Patrick (Pat) Fabian who made $4 million on the sale of the company was taken into federal custody on Thursday, April 9, 2015 and paperwork released on Friday, April 10, 2010 after posting $500,000 bond. Facteau & Fabian were accused of 18 counts of fraud ranging from Conspiracy, Securities Fraud, Wire Fraud, Food, Drug & Comsmetic Act Violations and were made to surrender passports.
Other cases that bonded out at $5 Million-Child Trafficking, Man Charged with Killing Wife, Mom Accused of Beheading Death. White collar crime also warrants multi-million dollar bonds, and to give context:
Bernie Madoff for example bonded out at $10 million was sentenced to 150 years in jail while ordered to pay $170 billion in restitution.
Dennis Kozlowski (Tyco CEO-also part of the medical device industry) was accused of stealing $600 million and bonded out at $5 million and in 2005 sentenced between 8.25 and 24 years for enterprise corruption & grand larceny.
Jeff Skilling & Andrew Fastow, former Enron executives, both bonded out at $5 million each and were charged with fraud and various conspiracy crimes. Fastow pled guilty (received six years in jail) and agreed to flip on Fastow who was convicted on 19 counts of fraud and sentenced to 24 years in jail.
Santa’s little SEC elves were hard at work yesterday checking out someone written about on this site previously:
SEC is making a list and checking it twice trying to find out who’s naughty or nice.
2016 is gonna be a rough year for a few of the #GodsOfFrauds and #GoddessesOfTheGrifts. While the arrest today may seem sudden or in retaliation for Shkreli’s recent antics it’s likely part of a much larger investigation that’s been on-going for a couple of years.