Martin Shkreli resigns as CEO of Turing Pharmaceuticals after being charged with securities fraud

Turing Pharmaceuticals CEO Martin Shkreli, who was charged Thursdaywith securities fraud, has resigned his position.

The company saidboardchairman RonTilleshas been named interim CEO.

• Turing Pharma CEO Martin Shkreli defrauded investors with 'a web of lies,' prosecutor says
• Martin Shkreli, 'most hated man in America,' arrested for fraud

Shkreli was arrested in New York City and charged with securities fraudrelated tohis former hedge fund and a drug company he once ran.

A seven-count indictment unsealed in Brooklyn Federal Court chargedShkreli with:

• Conspiracy to commit securities fraud.
• Conspiracy to commit wire fraud.
• Securities fraud.

He has pleaded not guilty to the charges.

The allegations againstShkrelion Thursdayhave nothing to do with the price-gouging accusations that turned him into a poster boy for corporate greed back in September.

Shkreliwas widely attackedwhen he jacked up the price of Daraprim, a potentially life-savinganti-parasiticdrugtreatment, from $13.50 US a pill to $750.