Drug boss’s ‘Ponzi’ trial

THE ex-hedge fund manager who once hiked the price of a life-saving Aids drug by 5,500pc is due to go on trial for fraud.

Jury selection began yesterday in New York for the trial of Martin Shkreli, 34, over an alleged Ponzi-like investment scheme.

Shkreli is accused of lying to investors and siphoning millions in assets from biopharmaceutical firm Retrophin to repay them. He has pleaded not guilty.

He caused outrage in 2015 when he raised the price of Daraprim from $13.50 to $750, saying his company, Turing Pharmaceuticals, needed to turn a profit.