Brooklyn-bred pharmaceutical CEO Martin Shkreli has had one hell of a year. Aside from spiking up the price of a popular AIDS medication by 5500% ($13.50 to $750), Shkreli has received massive attention from the hip-hop world after it was revealed he purchased the Wu-Tang Clan's secret album, Once Upon A Time In Shaolin, for $2 million. This morning however, the former CEO of Retrophin LLC was unwillingly thrust into the spotlight once again as he was arrested this morning on charges of securities fraud.

The F.B.I. picked up Shkreli early Thursday due to a case stemming from the biotechnology firm he started in 2011. The avid hip-hop fan was charged with taking stock from Retrophin to pay off several debts from other business dealings. The company's board went on to sue Shkreli and take his CEO title away "because of serious concerns about his conduct." If Shkreli is found guilty of the federal charges he may be banned from owning a public company, which could ultimately put one of his in jeopardy. When asked about Retrophin's suing him for misuse of company funds, Shkreli stated, "The $65 million Retrophin wants from me would not dent me. I feel great. I'm licking my chops over the suits I'm going to file against them."

Just yesterday Martin Shkreli offered jailed rapper Bobby Shmurda up to $4 million to help with his case in exchange for music. "I'm a fan and I'm a business man," he told HipHopDX. "Look, the guy's going to have to record for me if he comes out. I'll just come out and say it...I'm not going to do this for free."

Shkreli's lawyer has not responded to requests for comments on the case, but he's currently making headlines for his spike in legal fees. According to the New Yorker, Attorney Harland Dorrinson announced his fees have moved from $12K an hour to a costly $60,000. "Compared to what he pays for an hour of Wu-Tang Clan, sixty thou is a bargain," he said after informing Shkreli of the fee increase. "This is the behavior of a sociopath," Shkreli reportedly screamed after accusing Dorrinson of "outrageous and inhumane price gouging."

Brooklyn U.S. Attorney Robert Capers will address the case during a press conference in Brooklyn later today. Stay tuned to VladTV for more info.

Source: Bloomberg Business