Former hedge fund manager Martin Shkreli, who stirred controversy earlier this year when he increased the price of a drug he owned from $13.50 to $750 overnight, was arrested Thursday by federal agents on accusations of securities fraud, according to the U.S. Department of Justice.
Kaye Scholer corporate partner Evan Greebel was also arrested and is accused of conspiring with Shkreli in taking stock from the biotechnology company Retrophin Inc., which Shkreli founded and ran before it terminated him last year, according to the government’s 28-page indictment. Greebel served as outside counsel to Retrophin.
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