The House Committee on Oversight and Government Reform issued a subpoena to Martin Shkreli, the controversial former CEO of Turing Pharmaceuticals, to testify on drug price gouging at a hearing next Tuesday.
Shkreli, 32, faced harsh criticism for saying a 5,000 percent increase on Daraprim, a life-saving drug used to treat AIDS, is “not excessive at all.” He also said he wished he had increased it more. Shkreli invoked the Fifth Amendment when asked to provide documents subpoenaed for an investigation being conducted by the Senate Special Committee on Aging, Sen. [crscore]Susan Collins[/crscore] of Maine said Wednesday.
“Absent a valid justification for the grounds for invoking the Fifth Amendment, Mr. Shkreli’s assertion could hinder our investigation.”
— Sen. Susan Collins (@SenatorCollins) January 20, 2016
It is unclear whether the notorious former hedge fund manager will do the same in the lower chamber.
House busy whining to healthcare reporters about me appearing for their chit chat next week. Haven’t decided yet. Should I? @RepCummings — Martin Shkreli (@MartinShkreli) January 20, 2016
Committee Chairman [crscore]Jason Chaffetz[/crscore] and Ranking Member [crscore]Elijah Cummings[/crscore] wrote in a letter to Shkreli’s lawyers Wednesday that if he fails to comply he may be exposed to criminal repercussions.
Shkreli – who was widely mocked for spending $2 million on a Wu-Tang Clan album – was arrested on securities fraud charges in December for allegedly participating in a Ponzi-like scheme at his former hedge fund.
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