Martin Shkreli had $45 million in his E*Trade account when he secured his own bail in December 2015. That same account is now holding just $4 million, according to a federal prosecutor.
The E*Trade account has fallen apart because its biggest holding was in KaloBio Pharmaceuticals, Assistant U.S. Attorney Winston Paes said.
KaloBios is a small biotech company that develops cancer drugs. The company’s shares rose by 400% in November after Shkreli took it over.
Following his arrest the company’s shared plummeted to $2 and the drug company is now in bankruptcy.
Shkreli held the position of CEO at KaloBios Pharmaceuticals but left that position following his arrest.
Benjamin Brafman, who represents Shkreli, said the value of KaloBios’ stock was hurt by his client’s indictment. He also revealed that Shkreli would find a new way to supplement his $5 million bond if necessary.
The former KaloBios CEO is facing securities fraud charges involving Retrophin, a company he ran several years ago. He is accused of using the company as his own private piggy bank while running a ponzi-type scheme.
Brafman told the press that he accepted Shkreli’s case on the condition he no longer talk to the media.
He might not be talking to members of the press but Shkreli still spends hours in front of a YouTube live stream. His 10-hour long streams often include long periods of time in which he doesn’t talk to or engage in any way with his viewers.