Q Syndicate✒Dec 23, 2015
Last week, Shkreli was arrested for securities fraud:
“Shkreli essentially ran his companies like a Ponzi scheme, where he used each subsequent company to pay off the defrauded investors in the prior company,” U.S. Attorney Robert Capers told the press in a statement after Shkreli’s arrest.Prosecutors deny Shkreli's whine that the charges are related to his Daraprim price gouging. I wouldn't be surprised, however, if the price gouging were not directly related to his need to pay off some of those previously defrauded investors.
Martin Shkreli embodies everything that is wrong with our present economic system, which places little or no value on actually producing things of any actual useful purpose day to day. Oh, sure, you can become a billionaire by inventing the next flashy new app consumers can use to shout "Look at me!" on the internet.
But why bother with any of that when the real money is in hiding other people's money under a shell and moving it around a lot?