Martin Shkreli in custody after securities probe

[IMG]http://i.imgur.com/dBRWoat.jpg[/IMG]

:lebronamazed:

His live stream where he got busted is still on his on YouTube channel :oldlol:

[url]https://www.youtube.com/watch?v=I-4D6yj-cR4[/url]

[QUOTE=Velocirap31]Martin is a cool dude. There are far worse investors out there that are walking free and richer than ever. The speculators who traded bad mortgages like stock in 2008 and gave them AAA ratings should be the guys in jail. They caused a recession for the world and got insanely rich from it.[/QUOTE]

This is so ****ing true. If he were a Baby Boomer he'd never be in trouble. But he's young and legally exploiting a broken system, and Hillary etc. are using him as a pawn to advance their platform.

[QUOTE=BurningHammer]His live stream where he got busted is still on his on YouTube channel :oldlol:

[url]https://www.youtube.com/watch?v=I-4D6yj-cR4[/url][/QUOTE]
He got busted on that stream? God damn i miss MrChiCity, dude was entertaining

[QUOTE=masonanddixon]This is so ****ing true. If he were a Baby Boomer he'd never be in trouble. But he's young and legally exploiting a broken system, and Hillary etc. are using him as a pawn to advance their platform.[/QUOTE]
Yeah, because Baby Boomers never get arrested? :wtf:

Also you clearly have no understanding of why he was arrested which is pretty straightforward and nothing to do with "explotining a broken system."

[QUOTE=BurningHammer]His live stream where he got busted is still on his on YouTube channel :oldlol:

[url]https://www.youtube.com/watch?v=I-4D6yj-cR4[/url][/QUOTE]

I'm totally confused. What exactly would a Martin Shkreli live stream be about?

[QUOTE=masonanddixon]This is so ****ing true. If he were a Baby Boomer he'd never be in trouble. But he's young and legally exploiting a broken system, and Hillary etc. are using him as a pawn to advance their platform.[/QUOTE]

Yea because Bernie Madoff didn't go to jail for running a ponzi scheme.

Oh wait, he did. Never mind.

[QUOTE=KevinNYC]I'm totally confused. What exactly would a Martin Shkreli live stream be about?[/QUOTE]
Bragging about his Wu Tang album

[QUOTE=KevinNYC]I'm totally confused. What exactly would a Martin Shkreli live stream be about?[/QUOTE]

He teaches his investing techniques and how to recognize good/bad stocks. He also just chats with anyone watching, plays online chess and league of legends, goes on his ok cupid and asks people what girls he should pursue/what he should say. It's actually good entertainment and he's a pretty funny guy.

[QUOTE=BurningHammer]His live stream where he got busted is still on his on YouTube channel :oldlol:

[url]https://www.youtube.com/watch?v=I-4D6yj-cR4[/url][/QUOTE]
why does he live in a dorm room?

[QUOTE=Velocirap31]You don't go to federal prison for non-violent financial crimes.[/QUOTE]


Um..yes you do. It happens all the time.

[QUOTE=rufuspaul]Um..yes you do. It happens all the time.[/QUOTE]
no kidding. tell that to my friend who's doing 10 years in club fed for paying kickbacks for government contracts. guess he should fire hire his lawyer and hire velaciraps

[QUOTE=Velocirap31]He teaches his investing techniques and how to recognize good/bad stocks. He also just chats with anyone watching, plays online chess and league of legends, goes on his ok cupid and asks people what girls he should pursue/what he should say. It's actually good entertainment and he's a pretty funny guy.[/QUOTE]

I guess I wouldn't find that entertaining. Do you know if he did this before he got notorious?

and for those coming late to the thread, the reason he got arrested was he had a failing hedge fund that lost a lot of money. He then started his biotech company. He was being sued by the investors in the first fund so we starting using money from the second company to pay off the first. He was stealing from one company to pay off debts of another.....don't know if was personally liable for those debts.

The new company auditors found out about these payments and he committed fraud when trying to cover it up.
[QUOTE]Later, when Retrophin’s auditor raised questions about the settlements, Mr. Shkreli and Mr. Greebel created fraudulent consulting agreements for the investors, thinking they could pay the money back without upsetting the auditor, the indictment states. From September 2013 to March 2014, they created fake consulting agreements for four investors, paying $7.6 million in cash and stock. Retrophin’s board did not approve of the consulting agreements, the indictment says.[/QUOTE]The board of the new company fired him and sued him last year.

The controversy from a couple of months ago is from yet a new company.

[QUOTE=rufuspaul]Um..yes you do. It happens all the time.[/QUOTE]

I really didn't know that. At least it would be a minimum security prison.