Re:Martin Shkreli Arrested on Securities Fraud Charges
by gizmo on Thursday December 17, 2015 @08:49AM
(#10751397)
He's the CEO of two companies.
In the case of Turing Pharmaceuticals he's the CEO because he founded the company and it's funded by his hedge fund buddies, who like him because they made a lot of money from his hedge fund MSMB, despite the hedge fund being a failure.
He'a also the CEO of KaloBios. In that case he bought, with the same buddies, 70% of the company stock. As the new majority shareholder he simply appointed himself CEO.
In the case of Turing Pharmaceuticals he's the CEO because he founded the company and it's funded by his hedge fund buddies, who like him because they made a lot of money from his hedge fund MSMB, despite the hedge fund being a failure.
He'a also the CEO of KaloBios. In that case he bought, with the same buddies, 70% of the company stock. As the new majority shareholder he simply appointed himself CEO.