NEW YORK — Martin Shkreli, the bad boy CEO of drug company Turning Pharmaceuticals who made headlines earlier this year for hiking the price of a drug by 5000%, was arrested Thursday morning on securities fraud charges.

Federal agents raided his Manhattan home as part of an investigation into Shkreli's shady dealings with companies prior to his current one, Turing Pharmaceuticals.

Shkreli is accused of illegally using assets from Retrophin, another pharmaceutical company he founded in 2011, to pay off personal debts related to his hedge fund, MSMB Capital Management.

As CEO of MSMB he conned millions out of investors, with inflated profit reports before the hedge fund went belly-up in 2012. This was around the same time slimy Shkreli became CEO of Retrophin.

Retrophin fired Shkreli in 2014 and filed a $65 million dollar lawsuit against him in August after $11 million in Retrophin assets wound up in the hands of jaded MSMB investors.

Whatever bail has been set at, let's hope some justice-seeking jerk will increase that amount by 5000%.

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