The controversial US pharma boss and hedge fund figure Martin Shkreli has been fired as CEO of KaloBios Pharmaceuticals (NasdaqGM: KBIO – news) following his arrest on fraud charges, the firm said Monday.
The news came on the heels of Shkreli’s resignation Friday as boss of Turing Pharmaceuticals, the day after his indictment over allegations of a Ponzi scheme-like fraud conspiracy.
Shkreli was “terminated as chief executive officer of the company and resigned from his position as a member of the board of directors” on December 17, the day of his arrest, KaloBios said in a securities filing.
US Justice Department officials suspect the 32-year-old of mounting a brazen fraud between 2009 and 2014 at two hedge funds and another firm, prior to his career at either pharmaceutical company.
He is accused of lying to investors, moving money between investments to cover losses in other vehicles and siphoning off cash for personal expenses.
Shkreli rose to infamy earlier this year after he, as founder and CEO of Turing, bought rights to toxoplasmosis drug Daraprim and promptly raised the price from $13.50 a tablet to $750.
His tenure at KaloBios was particularly brief, as he had taken over as chief executive only on November 19.
Shares (Berlin: DI6.BE – news) of KaloBios have been suspended since Thursday, after falling more than 50 percent in pre-market trade on news of Shkreli’s arrest that day.
Some conservatives are becoming apoplectic as the lunatic antics of the Trump legal team continue unabated
The lunatic antics of the Trump legal team continued unabated over this past weekend. After his mysteriously oozing press conference last Thursday, Donald Trump's personal lawyer Rudy Giuliani kept an uncharacteristically low profile. Jenna Ellis, his partner in the "elite strike force," took to Twitter to insult longtime Republican pollster Frank Luntz, accusing him of "micropenis syndrome," but beyond that she too stayed quiet. They left the public appearances to Sidney Powell, the member of the team best known as former national security adviser Michael Flynn's least competent attorney.
Trump campaign’s ‘stunningly incompetent’ strategy exposed by former federal prosecutor
The Trump campaign is still racking up legal losses in the courts, and even some wealthy GOP donors are reportedly pushing the party to pull the plug on Trump's efforts to overturn the results of the 2020 election.
Attorney Ken White, a former federal prosecutor, has taken a look at some of the Trump campaign's latest legal filings and has found them to be equal parts "shockingly ridiculous" and "stunningly incompetent."
WATCH: Trump shamed Thanksgiving turkey for refusing to concede White House pardon contest
It was just two years ago that President Donald Trump mocked a Thanksgiving turkey for refusing to concede the election for a White House pardon. As Thanksgiving 2020 approaches, Trump has officially become that turkey.
"This was a fair election... unfortunately, Carrots refused to concede and demanded a recount," Trump announced about the battle between Carrots and Peas.
"We're still fighting with Carrots," he joked in a speech. "And I will tell you, we've come to a conclusion: Carrots, I'm sorry to tell you, the results did not change. Too bad for Carrots."
It's unclear if Carrots still maintains the election was rigged, as President Trump does about the 2020 election. He joined Peas at Virginia Tech’s “Gobblers Rest” exhibit in Blacksburg, Virginia. There students and veterinarians within Virginia Tech’s Department of Animal and Poultry Sciences in the College of Agriculture and Life Sciences care for all turkeys given a pardon.