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ARTICLE | Politics & Policy

House committee won't excuse Shkreli from hearing

January 23, 2016 3:03 AM UTC

The U.S. House Committee on Oversight and Government Reform declined to excuse former Turing Pharmaceuticals AG (Zug, Switzerland) CEO Martin Shkreli from appearing at a Jan. 26 hearing on drug prices, or postpone the hearing. In a letter to Shkreli's counsel, committee Chairman Jason Chaffetz (R-Utah) wrote that the committee intends to enforce a Jan. 12 subpoena compelling him to appear.

The letter said neither Shkreli's intention to invoke his Fifth Amendment privilege nor an outstanding bond agreement restricting Shkreli's travel would excuse him from the hearing. Shkreli was arrested on securities fraud charges last month. The letter says judges "routinely" amend travel restrictions to accommodate government hearings, and noted that a judge quickly approved a 2002 request from former ImClone Systems Inc. CEO Samuel Waksal to allow him to travel to Washington, D.C., for a hearing while under indictment. ...