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Martin Shkreli continues to run business from prison, report says
Martin Shkreli reportedly runs his pharmaceutical company from prison on a contraband smartphone. Shkreli continues to run the remains of the drug company that once earned him the title of most hated man in America, according to a story in the Wall Street Journal. He was convicted of securities fraud and conspiracy in 2017. He has served 16 months of a seven-year sentence in federal prison.
Shkreli is reportedly running Phoenixus AG, formerly known as Turing Pharmaceuticals. In 2015, when Shkreli was the CEO, Turing raised the price of the lifesaving drug Daraprim used by AIDS patients from $13.50 a pill to $750 a pill. The price hike sparked a public outcry.
The Journal says that Shkreli anticipates the company will grow more successful while he's in prison. He believes the company, of which he owns 40%, could be worth $3.7 billion by the time he gets out of prison.
On one recent phone call, Shkreli fired Phoenixus CEO Kevin Mulleady, the Journal reported. Shkreli reportedly later changed his mind, agreeing to suspend Mulleady rather than fire him.
Cartoon villain performance art.
Previously: Martin Shkreli Points Fingers at Other Pharmaceutical Companies
Martin Shkreli Convicted of Securities Fraud Charges, Optimistic About Sentencing
Martin Shkreli Lists Unreleased Wu-Tang Clan Album on eBay
Martin Shkreli's $5 Million Bail Revoked for Facebook Post Seeking Hillary Clinton's Hair
Sobbing Martin Shkreli Sentenced to 7 Years in Prison for Defrauding Investors
Related: Drug Firm Offers $1 Version of $750 Turing Pharmaceuticals Pill
Mylan Overcharged U.S. Government on EpiPens
EpiPen Maker is Facing Shareholder Backlash
FDA Has Named Names of Pharma Companies Blocking Cheaper Generics [Updated]
U.S. Hospitals Band Together to Form Civica Rx, a Non-Profit Pharmaceutical Company
(Score: 4, Insightful) by Runaway1956 on Saturday March 09 2019, @03:54PM (13 children)
whack his pee-pee, and throw his ass into solitary, on bread and water.
The story here is not that Shkrelli is breaking some rules. The story is that the prison is incapable of controlling it's prisoners.
Alternative für Deutschland
(Score: 3, Funny) by Anonymous Coward on Saturday March 09 2019, @04:46PM (4 children)
In my country, he is known as a businessman.
(Score: 3, Funny) by Anonymous Coward on Saturday March 09 2019, @06:21PM
Manafort, go back to your cell!
(Score: 1, Flamebait) by darkfeline on Sunday March 10 2019, @12:59AM (2 children)
To be fair, most organized criminals make much better businessmen than actual so-called businessmen.
Join the SDF Public Access UNIX System today!
(Score: 1, Touché) by Anonymous Coward on Sunday March 10 2019, @01:54AM (1 child)
Of course they do. It's a lot easier to be successful when you can literally "take out" your competition.
(Score: 2) by captain normal on Sunday March 10 2019, @03:41AM
Or, just make them an offer they can't refuse.
The Musk/Trump interview appears to have been hacked, but not a DDOS hack...more like A Distributed Denial of Reality.
(Score: 0) by Anonymous Coward on Saturday March 09 2019, @05:08PM (2 children)
Bread and water? LOL. In solitary, they mush everything on your tray into a ball and give you a foodball, with no tray, and no cup you can use to splash the guards with.
(Score: 1, Informative) by Anonymous Coward on Saturday March 09 2019, @05:20PM (1 child)
https://en.wikipedia.org/wiki/Nutraloaf [wikipedia.org]
(Score: 2) by DannyB on Sunday March 10 2019, @11:03PM
after reading the Wikipedia article . . .
My Nutraloaf recipie:
* Meat: spam
* vegitable: some kind of super hot eye watering peppers
* grains: ???
If AI causes human extinction, there will probably be quite a lawsuit over that.
(Score: 1) by fustakrakich on Saturday March 09 2019, @06:33PM
No, it's not about being "incapable" by any means. The prison system is run like any other business.
La politica e i criminali sono la stessa cosa..
(Score: 0) by Anonymous Coward on Saturday March 09 2019, @11:11PM (1 child)
Yes. I'm wondering whether or not it's been confiscated and if not, why not, and how soon will the people who are responsible for confiscating it be sacked so that it can be confiscated.
Only problem with whacking his pee-pee is that there is no money to fund transgender surgeries!
(Score: 2) by DannyB on Sunday March 10 2019, @10:59PM
You misunderstand whacking it. (And I do not mean masturbation.) Rather, hitting it with, say, a night stick.
If you to the surgery you suggest, then you remove the effectiveness of this helpful conditioning treatment.
If AI causes human extinction, there will probably be quite a lawsuit over that.
(Score: 0) by Anonymous Coward on Saturday March 09 2019, @11:15PM
nah. how about FCI Florence.
That could possibly send a message. But when he gets out I'm sure he, Michael Miliken, Andrew Wiederhorn et al will get together and plot their revenge on us.
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @02:58AM
Not from a visitor, because prisoners are strip searched after visits.
Not through the mail, because mail is strictly sorted.
We can't be certain that a correctional officer wasn't his supplier but it's the way to bet.
(Score: 0) by Anonymous Coward on Saturday March 09 2019, @04:51PM (13 children)
Did they intend on putting him in jail, to take down his company when he can't issue orders?
And since they failed it means he had some counter plans?
Or is it just that they are bitter their plan failed and they can't buy a whole company for cheap?
(Score: 2) by RandomFactor on Saturday March 09 2019, @05:29PM (10 children)
This brings up an interesting discussion.
When in jail, should you be able to do anything with your worldly goods or possessions? Arrange for their management and disposition? Or just learn to be a lawyer and hope your car is where you left it?
В «Правде» нет известий, в «Известиях» нет правды
(Score: 2, Insightful) by legont on Saturday March 09 2019, @07:55PM (4 children)
Mein Kampf was written in jail. Lenin - a professional writer - was also very productive while incarcerated.
The US is different though. He should have been raped by aids positive minorities.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 0) by Anonymous Coward on Saturday March 09 2019, @07:59PM
The profound boredom that comes with incarceration is extremely stimulating to the imagination. Those without imagination go crazy in jail.
(Score: 2, Informative) by Anonymous Coward on Sunday March 10 2019, @03:03AM (2 children)
I would not wish prison rape on someone.
https://en.wikipedia.org/wiki/Suicide_of_Rodney_Hulin [wikipedia.org]
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @06:37AM (1 child)
Thank you - fucking Christ Almighty, prison rape seems to be the ultimate punishment fantasy in the USA. Grow the fuck up morans.
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @04:59PM
In the US we need to hate someone, and criminals are easy prey. It's not that we wish rape upon them, we wish "the gay" upon them so we can continue hating them for more than their legal transgressions. We're nothing is not means spirited.
(Score: 3, Disagree) by edIII on Saturday March 09 2019, @09:14PM (4 children)
Of course you should. I don't think that incarceration stops you from being able to sign contracts and conduct business, unless the sentencing agreement (or whatever it is called) specifically barred those activities. Similar to a hacker being told he/she cannot operate a computer for 10 years.
Absent some sort of specific constraints on his behavior, he can conduct whatever business he wants to from behind bars. You can sign book deals, movie deals, whatever you want. What may be interesting though, is that there may be some claim then to the profits of the company to pay off any restitution fees imposed by the court. That may be civil court too.
The headline is a little misleading. What he is being accused of it is not running businesses, but using a contraband smartphone. He's fully capable of writing and receiving letters from prison, which will be reviewed of course, and that would let him conduct business just fine. The fact he is doing it on contraband and an unmonitored channel is the real story. Not surprising though, shithead MBA hellbound execufucks need covert channels. Everytime there is a dump we get to see them for the filth they are. Dupont knowingly poisoning a family, that cunt of a pharmacy exec that knew people were dying but pushed cherry picked results, Wall Street in 2008, Sony Entertainment execs being sweet gentlemen, etc.
People we want to prevent running businesses from prison are typically organized crime members, but I can see how you can confuse Corporate America with them :)
Technically, lunchtime is at any moment. It's just a wave function.
(Score: 3, Informative) by mendax on Saturday March 09 2019, @10:04PM (2 children)
Strictly speaking, you are not allowed to run a business from prison. These rules are in place to prevent gang-related business being conducted. You are allowed, however, to sign contracts for some purposes, such as signing a book deal. Prisoners are allowed to write books to their heart's content.
It's really quite a simple choice: Life, Death, or Los Angeles.
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @03:00AM (1 child)
Correct, at least for the Federal system. I've read the BOP regulations. There are some things forbidden without staff authorization, but running a business is never allowed.
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @05:30AM
So what happens with a privately held business? Can the employees do whatever they want? Could the incarcerated owner have the police evict those employees ignoring his orders from the premises? Can he have his lawyer handle policy enforcement?
(Score: 2) by MostCynical on Saturday March 09 2019, @10:47PM
https://dealbook.nytimes.com/2010/09/15/can-you-run-a-company-from-jail/ [nytimes.com]
https://www.khq.com/news/can-an-inmate-run-a-business-from-prison/article_57bf4358-d820-5ac1-b006-c037315f05f5.html [khq.com]
"I guess once you start doubting, there's no end to it." -Batou, Ghost in the Shell: Stand Alone Complex
(Score: 2, Informative) by Anonymous Coward on Saturday March 09 2019, @11:16PM (1 child)
For that matter, what is the current price of Daraprim? Did it come down?
If high-school kids in Australia can replicate a $750 drug for $2, why is it still so expensive to buy? [qz.com]
Looks like our work is not done here. We've got some more capitalists to put behind bars.
(Score: 2) by wisnoskij on Monday March 11 2019, @02:00AM
Because the kids did not have sell their product to anyone so 99% of the costs of a drug: FDA, Marketing, Bottling, RnD, giving away free product, were not included in their $2 cost.
(Score: 0, Troll) by Anonymous Coward on Saturday March 09 2019, @07:26PM (1 child)
can you hear me now?
(Score: 0) by Anonymous Coward on Sunday March 10 2019, @12:13AM
He probably licked it clean after it came out of Goatse's chamber
(Score: 1, Touché) by Anonymous Coward on Saturday March 09 2019, @10:10PM (1 child)
All the supervillains have them these days, I hear.
(Score: 2) by Fluffeh on Tuesday March 12 2019, @12:04AM
Yes, but they also reply to the right article.
*sips coffee*
This is not the article you are looking for.
*waves hand*