Martin Shkreli Arrested: 'Pharma Bro' Taken in for Securities Fraud

It's being reported that early Thursday morning, Turing Pharmaceuticals founder Martin Shkreli was arrested on securities fraud charges. The hedge fund manager, known to many as "Pharma Bro," rose to fame back when he was accused of price-gouging a medication – one that helps those suffering from AIDS – 5000%, from $13.50 to $750 per pill.

Shkreli has quickly earned himself the subjective title of "most hated man in America," and after news of his arrest broke, the Internet rejoiced, almost instantly:

The arrest is a result of some dirty doings back when he was working at Retrophin, a pharmaceutical company that, per the New York Times¸ "adopted a controversial business strategy that has come under scrutiny."

That strategy included purchasing old and "neglected" drugs, that were oftentimes used for rare diseases, and lifting their prices.

While federal law enforcement did not speak with the press as a result of the indictment not being "unsealed," many speculate that the arrest could relate to a lawsuit filed against Shkreli back in August by the board of Retrophin. The board reportedly expelled the 32-year-old from the company last September, claiming he "used the company as a kind of personal piggy bank" in order to pay some unruly investors who lost money, as a result of Shkreli, over at MSMB Captial Management, a hedge fund at which Pharma Bro was the manager.

Retrophin's complaint read as such: "Shkreli was the paradigm faithless servant. Starting sometime in early 2012, and continuing until he left the company, Shkreli used his control over Retrophin to enrich himself and to pay off claims of MSMB investors (who he had defrauded)."

Check out more on Shkreli's arrest over at The New York Times.