Question: Case Study Essay on Martin Shkreli Fraud Case.

Case Study Criteria: Financial reporting and prevention of fraud through the application of significant internal policies and adherence to corporate governance elements such as federal regulations is a major concern by organizations and management today.

You are to locate information regarding a singular accounting scandal (one company/not an entire industry/not a governmental entity) as reported in a major news outlet (not a blog or other off the mainstream reporting medium).  (References provided at the end of document.)

TOPIC OF CHOICE:  MARTIN SHKRELI FRAUD CASE

Write a 7-8 page case study essay.

Introduction:  Write on the importance of Corporate Governance and how its application has interacted with an accounting or financial scandal. (Martin Shkreili's Fraud Case with Retrophin.  Incorporate the other history of Shkreil's lawsuits and other scandals throughout the years with outcomes. 

Body:  Please answer questions below and incorporate in the "Martin Shkreili Fraud/Ponzi-Scheme" case study essay.

1. What fraud or other financial malfeasance took place (and was proven, not speculated). Be specific here.

2. How the fraud or malfeasance affected or misrepresented the performance of the business and/or its strategic position and which business functions were manipulated or misrepresented as a result of the actions?

3. How the fraud or malfeasance was discovered or brought to the attention of the authorities.  Consider where the breakdown occurred or which business function may have failed to keep it "hidden."

4. What federal laws or other regulations did the issue(s) violate?  Be specific in your identification of the violations.

 5. What the outcome was including who has been held accountable and what penalties were applied? 

6. What outcome/impact was felt by the various stakeholders involved in the situation? Here you should consider who would make up the stakeholders.

References and Articles-

-Milford, P. and Tracer, Z. (2015, Aug. 17). Retrophin Sues Founder in Latest Fight Over Use of Funds.  Retrieved from:

http://www.bloomberg.com/news/articles/2015-08-17/retrophin-sues-founder-shkreli-for-65-million-in-u-s-court

-Eichenwalk, K.  (2015, Sept. 23).  Business:  Federal Prosecutors Target MartiShkreli in Criminal Investigation.  Retrived from:

http://www.newsweek.com/martin-shkreli-drug-manipulation-daraprim-retrophin-375416

-Walker, H. and Roche, J. (2015, Sept. 24). The Hedge Fund at the Center of the Drug Increase Controversy has a Long History of Alleged Bad Behavior.  Retrieved from:

http://www.businessinsider.com/martin-shkrelis-history-of-lawsuits-2015-9

-Mole, B. (2015, Dec 17).  Turing's reviled Shkreili Indicted for Securities Fraud over "Ponzi-like" scheme, Updated:  Retrieved from:

http://arstechnica.com/science/2015/12/turing-pharmaceuticals-martin-shkreli-arrested-for-security-fraud/

Charges: http://abcnews.go.com/Health/turing-pharmaceuticals-ceo-martin-shkreli-arrested-securities-wire/story?id=35819042

-CBCNews, (2015, Dec. 17). Business:  Turing Pharma CEO Martin Shkreili Defrauded Investors with "A Web of Lies" Prosecutors Says.  Retrieved from: 

http://www.cbc.ca/news/business/martin-shkreli-arrest-fbi-1.3369271

Roche, J. & Jacobs, P. (2015, Dec. 17). Hedge funder Martin Shkreli has been arrested in a securities-fraud investigation. 

Smythe, C. & Geiger, K. (2015, Dec 17).  Shkreli, Drug Price Gouger....Retrieved on:

http://www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/

-Bomey, N.; McCoy, K. and Hjelmgaard, K.  (2015, Dec 18).  Shkreli, CEO Slammed over drug prices, $5M bond:

http://www.usatoday.com/story/money/2015/12/17/martin-shkreli-arrested/77469752/

-Dungan, M. (2016, Jan. 25).  Martin Shkreili Arrested for Securities Fraud.  Retrieved from:

http://guardianlv.com/2016/01/martin-shkreli-arrested-for-securities-fraud/

-Raymond, N. (2016, Feb. 3). Retrophin to pay $3 million in U.S. lawsuit over Shkreli's tenure: Retrieved from:

http://www.reuters.com/article/us-retrophin-lawsuit-shkreli-idUSKCN0VC1K8

-Ramsey, L.  (2016, Feb. 13).  Here's What's Happened to the Companies Martin Shkreli Used to Run.  Retrieved from:

http://www.businessinsider.com/what-happened-to-martin-shkrelis-companies-2016-2

-FOXNews.com:  Ex-CEO Shkreili Smirks, Pleads Fifth at Hearing on Drug Price Hikes.  Retrieved from:

http://www.foxnews.com/politics/2016/02/04/ex-ceo-shkreli-smirks-pleads-fifth-at-hearing-on-drug-price-hikes.html

-Fox, E.  (2016, May 3).  Martin Shkreli May Face More Securities-Fraud Charges.  Retrieved from:

http://www.vanityfair.com/news/2016/05/martin-shkreli-more-securities-fraud-charges

-SEC charged against him:

https://www.securitieslawyer101.com/2016/martin-shkreli-securities-fraud/