Martin
Shkreli emerged as one of the most hated men in America months ago when it was
revealed that the then-CEO of Turing Pharmaceuticals haphazardly raised the price of the life-saving drug Daraprim from $13.50 to $750 – an increase of about 4,000 percent.
Many
Americans delighted to subsequently hear that the manipulative Wall Street
shark with the constant, juvenile smirk on his face was arrested days before Christmas. He faces seven counts
of securities fraud and wire fraud for an alleged “Ponzi-like” scheme involving
two hedge funds and pharmaceutical company Retrophin, all of which he founded.
A
lengthy indictment detailing the scheme shatters the image of Shkreli -- no doubt a
member of the Bernie Madoff Fan Club -- as a successful investor. The documentation tells the
story of an inept hedge-fund manager who lost big in the late 2000s and has
been struggling to keep defrauded investors off his back ever since.
“As
alleged, Martin Shkreli engaged in multiple schemes to ensnare investors
through a web of lies and deceit,” a federal prosecutor said.
Yet,
Shkreli responded by wallowing in his sudden infamy with all the shallowness of Miley
Cyrus. He quoted Eminem lyrics to defend the price hike on the anti-HIV drug.
He insulted
his critics on Twitter. He engaged in a bizarre public feud with the
musical group Wu-Tang Clan.
But the notorious Shkreli, suddenly chastened
by the prospect of spending many years behind bars, saved his best/worst
performance for Wednesday’s appearance before the House Committee on Oversight
and Government Reform.
He did a lot of smirking and giggling, but failed to answer questions
posed. Even the pro-business Republicans on the panel were not at all amused.
“Do
you think you’ve done anything wrong?” Committee Chairman Rep. Jason Chaffetz
asked him.
“On
the advice of counsel, I invoke my Fifth Amendment privilege against
self-incrimination and respectfully decline to answer your question,” Shkreli
responded.
Shkreli
pleaded the Fifth to every question except one from Rep. Trey Gowdy
about the pronunciation of his last name.
“See,
there! You can answer some questions,” Gowdy joked.
It
now seems fairly safe to say that Shkreli has not one ally in America.
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