Shkreli Used E*Trade Account for Bail

    Martin Shkreli (C), chief executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc, departs U.S. Federal Court after an arraignment following his being charged in a federal indictment filed in Brooklyn relating to his management of hedge fund MSMB Capital Management and biopharmaceutical company Retrophin Inc. in New York in this December 17, 2015, file photo. KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on December 29, 2015.

    Lucas Jackson/Files/Reuters

    New court documents on Thursday revealed that reviled pharmaceutical CEO Martin Shkreli used a $45 million E*Trade account to secure bail after he was arrested on federal securities fraud and conspiracy charges last month. The 32-year-old came into the national spotlight for raising the price of life-saving drugs by more than 5,000 percent. Shkreli was freed on a $5 million bond, but cannot sell or transfer any funds out of the E*Trade account.

    Read it at Bloomberg