He is accused of fraud in connection with the pharmaceutical company he headed before, Retrophin, and hedge funds, MSNB Capital Management, where he was the fund manager.
He is currently Chief Executive Turing Pharmaceuticals.
Mr. Shkreli was arrested by the FBI.
He was arrested in Manhattan, New York, accused of illegal use of funds Retrophin to pay off debts after MSMB lost millions of dollars, Reuters reported.
In September, he was criticized after hiking up the price of a popular AIDS and parasitic infection medicine Daraprim 5,000% – from $ 13.50 to $ 750 – that prompted an adverse reaction on social media.
The move brought the presidential candidate Hillary Clinton vowed to solve the problem of excessive pricing by pharmaceutical companies.
Analysts say that this issue, as have led to volatility in pharmaceutical stocks.
In November, Mr. Skhreli also made the executive director of KaloBios Pharmaceuticals.
FBI investigation dates back at least until January, when Retrophin said it received a subpoena from the prosecutor’s office, seeking information about his relationship with Shkreli.
Retrophin, that Shkreli founded in 2011, sued his former boss in August of misuse of funds.
Board members chose Retrophin Shkreli replaced as chief executive officer in September 2014.
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