Martin Shkreli, the disgraced CEO of drugmaker Turing Pharmaceuticals, resigned Friday from the company he founded following his arrest on unrelated securities fraud charges.
Ron Tilles, the chairman of the board of the privately held company, will serve as interim chief executive until a formal replacement is named, according to a Turing news release.
Federal prosecutors allege Shkreli orchestrated three interrelated fraud schemes from September 2009 through September 2014, using investors' money from one company he opened to illegally pay off debts owed to a previous business he started.