They have inspired derision, hand-wringing and in some cases, entire movements that aim to take down Wall Street and the investment community. Bernie Madoff, Ivan Boesky and Raj Rajaratnam form a special club of Wall Street Rogues. And this club now has a new member.
This morning, Feds arrested the brash CEO of a hedge fund who has made headlines for raising the prices of once-affordiable life saving drugs and spending $2 million on an exclusive recording of a popular hip hop group. Martin Shkreli, the 32-year old son of Ukrainian immigrants, was arrested in a securities fraud probe for allegedly stealing profits from a defunct hedge funds and paying off debts.
The reaction to the unapologetic young man — who said that he regretted not rasing the price of his pharmaceuticals even higher — was pure schadenfreude. “Couldn’t have ahappened to a nicer guy,” read one tweet.
What will be the impact of his alleged wrong-doings? It will take months before a trial starts but in the meantime Shkreli joins a Rogues Gallery of Wall Street players. In this Traders gallery, we take a look at the men — and one woman — who did so much to tarnish the reputation of everyone who trades and manages a portfiolio for a living.
Did we miss anyone?
