Martin Shkreli, the CEO of Turing Pharmaceuticals who infamously raised the price of a life-saving pill from $13.50 to $750, has been charged with securities fraud in connection with "his previous work leading a biotech firm and a hedge fund" as reported by Meg Wagner for the Daily News:
Prosecutors claim the 32-year-old illegally took stock from Retrophin Inc., a biotechnology company he founded in 2011, and used the stolen funds to pay off his debts. Retrophin sued Shkreli in August, claiming he used company funds on his failed hedge fund, MSMB Capital Management.
The FBI also arrested New York lawyer Evan Greebel who is "accused of conspiring with Shkreli in part of the scheme" as reported by Bloomberg. It's funny, because so often behind a financial fraud there's a conniving lawyer.