This particular business fraud took place in Brooklyn New York after a pharmaceutical executive was under criticism for price gouging drugs. While being charged Martin Shkreli was freed on bond although he was denied fraud charges. Shkreli earned a very high level of infamy just alone off his business and personal life and at a very young age of 32 years old but, that was not enough to not accuse him of consistently losing investors money, while illegally without their knowing stealing their assets to assist with other debts they had and to include lying to them about their money and where it was actually spent. As the time passed this business fraud that Shkreli was charged was exposed when he essentially ran it like a Ponzi scheme. A Ponzi …show more content…
During his indictment a lot more truth arise and more truth was told as to where money over the years actually went. This particular pharmaceutical business fraud may not be as big as the Bernie Madoff story and never reached Wall Street but, this case drew a lot of attention because of the defiant price gouging and his back and forth with wanting to help others including immigrants and then turning behind their backs and mocking them. This pharmaceutical business fraud caused more damage being that Shkreli stated he would lower the prices to accommodate others, then later reneged. Hillary Clinton who has tried numerous of times to have him cut costs and lower prices for those that needed medication, he tweeted her with a LOL. This tweet was then commented with a statement that "he should of raised the prices higher, because his investors need to maximize their profits". With all this said and done and prices steady rising before his arrest, Shkreli still felt the need to create more damage to his public image by spending millions on items that others may have wanted and then bragging about it on social media and other