Controversial former pharmaceutical CEO Martin Shkreli may face more charges connected to his role in a biopharmaceutical company.
A prosecutor in the case said during a hearing Tuesday that Shkreli could face additional charges of securities fraud, several media outlets reported. Shkreli caused a public outrage last year when his former company, Turing Pharmaceuticals, drastically raised the price of an anti-malarial drug it bought by 5,000 percent.
He was arrested in December on federal charges of securities and wire fraud connected to his former company Retrophin. The charges weren’t related to the price spike at Turing, from which Shkreli resigned soon after he was charged.
Shkreli is charged with using an investment fund to prop up the earnings for the biopharmaceutical company Retrophin. He pleaded not guilty to the charges and has said on Twitter that he is innocent.
He was brought before a House panel earlier this year but declined to answer any questions over his role in Turing, invoking his Fifth Amendment rights.
