By Frank McGurty NEW YORK (Reuters) – Martin Shkreli, the pharmaceuticals entrepreneur vilified for jacking up the price of a life-saving AIDS drug, said on Saturday that unrelated securities fraud allegations that resulted in his arrest this week were “baseless and without merit.” Federal prosecutors have alleged that Shkreli was running a Ponzi-like scheme at his former hedge fund and a company he headed before he took the helm of Turing Pharmaceuticals Inc, where he created an uproar in September when the company raised the price of the drug Daraprim from $13.50 to $750 a tablet. “I am confident I will prevail,” Shkreli wrote on Twitter on Saturday. “The allegations against me are baseless and without merit.” Shkreli was charged on Thursday with securities fraud, securities fraud conspiracy and wire fraud conspiracy related to his management of hedge fund MSMB Capital Management and biopharmaceutical company Retrophin Inc .
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Martin Shkreli says securities fraud charges are ‘baseless’