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KaloBios terminates Shkreli as CEO

[BENGALURU] Drugmaker KaloBios Pharmaceuticals Inc said it terminated Martin Shkreli as chief executive on Dec 17, the day he was arrested on charges of securities fraud.

Shkreli, who stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, also resigned from his position on KaloBios' board of directors.

Shkreli was arrested for engaging in what US prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed.