Martin Shkreli Keeps $45,000,000 In Etrade Account

[lawrence-lugar]

Pharma bad boy Martin Shkreli has used his Etrade brokerage account — which contained a cool $45 million as of Wednesday — to secure the $5 million bond that has kept him out of jail since mid-December

How does this dude have so much cash laying around ???

He's the CEO of multiple public companies. (some or all may be frauds, but still. -- money in the bank is money in the bank )

 

[Chris Mac]

He's the CEO of multiple public companies. (some or all may be frauds, but still. -- money in the bank is money in the bank )

Nope ! Money in the bank... can "disappear".
That s why you should withdraw money regularly and diversify.
Because money in your pocket is in your pocket.
Remember Lehman, Northern Rock, Madoff, MF Global, Chypriot banks etc.
Btw, it is quite obvious Shkreli is a cheater and a liar. You don't need a Phd in Psychology to understand that.

CM

 

[Chuck Krug]

Could be $45 million in KBIO stock 'valued' at $23.59/share

 

[Daal]

"ponzi scheme" is just a exaggerated claim prosecutors use to scare people into a plea bargain. if he did something wrong, its going to be an accounting fraud or misappropriation of property, not a ponzi

 

[drcha]

Well, only for now...they may RICO it away from him.

 

[Dinosaur_Supervisor]

Why does someone who has so much money decides to commit frauds, risking destroying his own reputation?

 

[Fundlord]

Why does someone who has so much money decides to commit frauds, risking destroying his own reputation?

Maybe to get the money in the first place.

 

[sprstpd]

Why does someone who has so much money decides to commit frauds, risking destroying his own reputation?

Why does he raise the price of a drug 5000% overnight? Because he has no regard for what is right and wrong.

 

[rockn]

Well his hedge fund/Ponzi scheme lost all its money and I don't think it was ever big enough to net him 45m after taxes.

Must be from his drug company which had a net loss of $14.6m for the third quarter, ending September 30.

All that $ and this is what he does with his time

The live stream was pretty cool before all the press broke out, that it /he was legit, its a shame if the charges are true, and it was just ponzi scheme. I was observing a few times. Maybe he was trying to show he had nothing to hide?

 

[marcoPolo21]

how does one protect 45m cash?

is it insured [in a brokerage account] somehow?

marc