U.S. Indicts Turing CEO Shkreli

Turing Pharmaceuticals CEO Martin Shkreli was indicted last week by federal prosecutors on seven counts of fraud. Prosecutors accuse the biotech executive of defrauding investors in his former hedge funds MSMB Capital and MSMB Healthcare and misappropriating assets from Retrophin, the biotech firm he founded in 2011. Evan Greebel, who served as outside counsel to Retrophin, was also charged. Both men face up to 20 years in prison. Shkreli became the face of drug industry greed this fall after Turing, which he founded this year after being ousted from Retrophin, hiked the price of the toxoplasmosis drug Daraprim by more than 5,000%. The indictment is unrelated to the drug pricing controversy.