Martin Shkreli's $45 million E*Trade account was used to secure his $5 million bond
AP Images
As of January 6, the account had $45 million in assets, the filing said.
The filing says that Shkreli cannot sell or transfer the funds from the account.
If assets fall below $5 million in the account, E*Trade is supposed to notify the US Attorney's Office for the Eastern District of New York within a day.
Shkreli, 32, was arrested on December 17 by federal authorities on charges of securities fraud involving his former hedge fund, MSMB Capital, and Retrophin, the publicly traded biotech company he founded in 2011 and led until September 2014, when he was ousted by the board as CEO.
Prosecutors alleged that Shkreli carried out three interrelated fraudulent schemes by money from Retrophin to repay investors in MSMB Capital. US Attorney Robert Capers said that his alleged transactions were "like a Ponzi scheme."
Shkreli faces seven counts, including two counts of securities fraud, two counts of conspiracy to commit securities fraud, and three counts of conspiracy to commit wire fraud, according to the indictment.
He has pleaded not guilty to the charges and has Tweeted he's "confident" that he "will prevail." He was set free on $5 million bond.
Shkreli gained notoriety in September after his biopharma startup, Turing Pharmaceuticals, acquired the rights of Daraprim, a decades-old antiparasitic drug used to treat toxoplasmosis, and immediately hiked the price from $13.50 to $750 a pill.
On December 18, Turing replaced Shkreli as its CEO. On December 21, KaloBios terminated Shkreli as its CEO.
Bloomberg was first to report the terms of the bail.
Here's the filing:
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market