# Let the schadenfreude begin: Martin Shkreli arrested for securities fraud **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [December 17, 2015, 2:21pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692 "2015-12-17T14:21:52Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![carnivorousplant](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnivorousplant/32/3563_2.png) [@carnivorousplant](https://boards.straightdope.com/u/carnivorousplant)\ **Post date:** [December 17, 2015, 10:36pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/21 "2015-12-17T22:36:06Z")
> [@Trom](#): > > :rolleyes: > > As a securities trader, I can assure you this is false. Well hell, they aren’t going to _tell_ you about it! ---
**Author:** ![Senegoid](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/senegoid/32/6606_2.png) [@Senegoid](https://boards.straightdope.com/u/Senegoid)\ **Post date:** [December 17, 2015, 10:43pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/22 "2015-12-17T22:43:25Z")
> [@Baron\_Greenback](#): > > So if he gets convicted, and his assets seized, does that mean that the US Government takes possession of the one-off one-copy Wu-Tang Clan album that Shkreli paid $2 million for? Is this the kind of case where asset forfeiture is a possibility? ---
**Author:** ![Trom](https://avatars.discourse-cdn.com/v4/letter/t/958977/32.png) [@Trom](https://boards.straightdope.com/u/Trom)\ **Post date:** [December 17, 2015, 11:10pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/23 "2015-12-17T23:10:13Z")
> [@carnivorousplant](#): > > Well hell, they aren’t going to _tell_ you about it! Good point. Might be time for me to start trading something where those meddling regulators won’t give me any grief… I’ve got a hot tip that there’s huge pent up demand from China for Beanie Babies, POGs, Tickle Me Elmos, and Magic: The Gathering cards. Contact me for my current best prices. Get in now before it’s too late! ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [December 18, 2015, 12:13am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/24 "2015-12-18T00:13:01Z")
> [@Baron\_Greenback](#): > > So if he gets convicted, and his assets seized, does that mean that the US Government takes possession of the one-off one-copy Wu-Tang Clan album that Shkreli paid $2 million for? Not so far, because they haven’t confirmed it was bought with money from his alleged fraud. From the [NYT article](http://www.nytimes.com/2015/12/18/business/shkreli-fraud-charges.html): > [@](#): > > Asked if agents had seized the Wu-Tang Clan album that Mr. Shkreli reportedly bought for $2 million, United States Attorney Robert L. Capers was coy. > > “I wondered how long it was going to take to get to that,” he said. “We’re not aware of where he got the funds that he raised to buy the Wu-Tang Clan album.” ---
**Author:** ![Captain\_Amazing](https://avatars.discourse-cdn.com/v4/letter/c/6de8d8/32.png) [@Captain\_Amazing](https://boards.straightdope.com/u/Captain_Amazing)\ **Post date:** [December 18, 2015, 12:15am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/25 "2015-12-18T00:15:57Z")
> [@Merneith](#): > > My favorite part of this story is that they also indicted Shkreli’s company’s former laywer, Evan Greebel. These are characters in a Charles Dickens book, aren’t they? eta: Or Captain Planet villains. ---
**Author:** ![carnivorousplant](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnivorousplant/32/3563_2.png) [@carnivorousplant](https://boards.straightdope.com/u/carnivorousplant)\ **Post date:** [December 18, 2015, 1:26am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/26 "2015-12-18T01:26:37Z")
> [@](#): > > Asked if agents had seized the Wu-Tang Clan album that Mr. Shkreli reportedly bought for $2 million, United States Attorney Robert L. Capers was coy. > > “I wondered how long it was going to take to get to that,” he said. “We’re not aware of where he got the funds that he raised to buy the Wu-Tang Clan album.” Again, well, hell. He’s probably burned it to CD by now. :dubious: ---
**Author:** ![Wesley\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wesley_clark/32/20581_2.png) [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)\ **Post date:** [December 18, 2015, 1:49am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/27 "2015-12-18T01:49:30Z")
> [@Ravenman](#): > > I’m waiting for **Wesley** to respond, “Yeah, but still…” You think facts are going to change my opinions? I have invested the integrity of my social self in this belief, backing down now would make me look weak. But still, is there a chance that the reason they took this issue so seriously was because they wanted an excuse to bring him down? I am comparing it to the Julian Assange issue. He leaked confidential documents, then the Swedish government tries to prosecute him for sex crimes Maybe Shkreli’s bad public image helped push his case to the forefront. Considering how many cases of fraud involved in the 2008 collapse were never investigated, I don’t know if you can say for sure that breaking the law alone will result in consequences. In police work many cops will use any excuse to take someone they consider a threat off the streets. A lot of marijuana arrests are just cops using anything they can to take people they think are a danger to the community off the streets. Someone who isn’t seen as a danger the cops may look the other way if they see them using soft drugs in public while they will bring a gang member in for smoking marijuana. So my view is perhaps it is similar to that. Yeah he broke the law, but considering how much financial crime seems to be never prosecuted in this country why would I believe that that alone is the cause of his arrest? ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [December 18, 2015, 5:37am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/28 "2015-12-18T05:37:42Z")
> [@Baron\_Greenback](#): > > So if he gets convicted, and his assets seized, does that mean that the US Government takes possession of the one-off one-copy Wu-Tang Clan album that Shkreli paid $2 million for? …and then they box it up and hide it forever in that vast warehouse that we saw in _Raider of the Lost Ark_… ---
**Author:** ![Ranger\_Jeff](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ranger_jeff/32/2065_2.png) [@Ranger\_Jeff](https://boards.straightdope.com/u/Ranger_Jeff)\ **Post date:** [December 18, 2015, 6:07am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/29 "2015-12-18T06:07:08Z")
It might have been a joke news report. I read somewhere that after the arrest, his attorney raised his fee to $60,000 an hour. ---
**Author:** ![Senegoid](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/senegoid/32/6606_2.png) [@Senegoid](https://boards.straightdope.com/u/Senegoid)\ **Post date:** [December 18, 2015, 8:18am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/30 "2015-12-18T08:18:02Z")
> [@Ranger\_Jeff](#): > > It might have been a joke news report. I read somewhere that after the arrest, his attorney raised his fee to $60,000 an hour. Probably just a joke. I read somewhere today that this, or similar, is a frequent joke being kicked around on the Webz. ---
**Author:** ![Eva\_Luna](https://avatars.discourse-cdn.com/v4/letter/e/e495f1/32.png) [@Eva\_Luna](https://boards.straightdope.com/u/Eva_Luna)\ **Post date:** [December 18, 2015, 8:49am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/31 "2015-12-18T08:49:00Z")
> [@Senegoid](#): > > Probably just a joke. I read somewhere today that this, or similar, is a frequent joke being kicked around on the Webz. [It’s from Andy Borowitz at the New Yorker.](http://www.newyorker.com/humor/borowitz-report) ---
**Author:** ![jz78817](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jz78817/32/1028_2.png) [@jz78817](https://boards.straightdope.com/u/jz78817)\ **Post date:** [December 18, 2015, 11:38am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/32 "2015-12-18T11:38:52Z")
> [@Sunspace](#): > > …and then they box it up and hide it forever in that vast warehouse that we saw in _Raider of the Lost Ark_… They have top men working on it right now. ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [December 18, 2015, 12:31pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/33 "2015-12-18T12:31:36Z")
> [@Lemur866](#): > > On the other hand, the only reason his arrest is national news is that he got himself in the media over the drug pricing incident. Ding! Ding! Ding! We have a winner. ---
**Author:** ![StrangerThanFiction](https://avatars.discourse-cdn.com/v4/letter/s/f05b48/32.png) [@StrangerThanFiction](https://boards.straightdope.com/u/StrangerThanFiction)\ **Post date:** [December 18, 2015, 2:37pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/34 "2015-12-18T14:37:50Z")
> [@jz78817](#): > > They have top men working on it right now. Who? ---
**Author:** ![jz78817](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jz78817/32/1028_2.png) [@jz78817](https://boards.straightdope.com/u/jz78817)\ **Post date:** [December 18, 2015, 2:39pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/35 "2015-12-18T14:39:09Z")
\*Top. Men.\* ---
**Author:** ![Sam\_Lowry](https://avatars.discourse-cdn.com/v4/letter/s/e95f7d/32.png) [@Sam\_Lowry](https://boards.straightdope.com/u/Sam_Lowry)\ **Post date:** [December 18, 2015, 4:13pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/36 "2015-12-18T16:13:57Z")
> [@TroutMan](#): > > Not so far, because they haven’t confirmed it was bought with money from his alleged fraud. From the [NYT article](http://www.nytimes.com/2015/12/18/business/shkreli-fraud-charges.html): But with Shkreli under arrest, [it will make it easier for Wu-Tang and Bill Murray to repossess the album.](http://www.billboard.com/articles/columns/hip-hop/6805582/bill-murray-wu-tang-heist-clause-fake) Although, before he was arrested, Shkreli was saying that he’s “[the most successful Albanian to ever walk the face of this Earth" and that "The Albanian community is a very weird community. We’re some of the most tight-knit kind-of kill for each other, die for each other motherfuckers there are](http://hiphopdx.com/interviews/id.2825/title.martin-shkreli-plans-to-bail-out-bobby-shmurda),” and basically saying that he wanted to start a fight with the Wu-Tang and how he could make them disappear. So I am almost disappointed he was arrested, because I would have liked to see how that played out. ---
**Author:** ![Senegoid](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/senegoid/32/6606_2.png) [@Senegoid](https://boards.straightdope.com/u/Senegoid)\ **Post date:** [December 18, 2015, 7:47pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/37 "2015-12-18T19:47:06Z")
News today: [Shkreli resigns as Turing CEO after securities fraud arrest](http://finance.yahoo.com/news/shkreli-resigns-turing-ceo-securities-174905827.html) The final paragraph of that article points out this alarming tid-bit: > [@](#): > > Shkreli recently became the CEO of a second company, KaloBios Pharmaceuticals, Inc., based in South San Francisco, California. There’s no word yet on whether he’ll remain at the helm there. ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [December 18, 2015, 7:55pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/38 "2015-12-18T19:55:07Z")
I did a Google search. In a very appropriate juxtaposition, the results show the following two lines: > [@](#): > > KaloBios is a biopharmaceutical company dedicated to improving the lives of … > KaloBios Pharmaceuticals, Inc. ---
**Author:** ![JKellyMap](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jkellymap/32/15880_2.png) [@JKellyMap](https://boards.straightdope.com/u/JKellyMap)\ **Post date:** [December 19, 2015, 8:36am UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/39 "2015-12-19T08:36:01Z")
> [@TroutMan](#): > > I did a Google search. In a very appropriate juxtaposition, the results show the following two lines: That is hilarious! ---
**Author:** ![dropzone](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dropzone/32/7515_2.png) [@dropzone](https://boards.straightdope.com/u/dropzone)\ **Post date:** [December 19, 2015, 5:24pm UTC](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692/40 "2015-12-19T17:24:53Z")
> [@Merneith](#): > > My favorite part of this story is that they also indicted Shkreli’s company’s former laywer, Evan Greebel. Yeah, on Marketplace Morning the host said wryly, “Mr Shkreli’s attorney could not be reached for comment because he was arrested at the same time.”. 😃 [Previous page](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692.md?page=1) [Next page](https://boards.straightdope.com/t/let-the-schadenfreude-begin-martin-shkreli-arrested-for-securities-fraud/740692.md?page=3)