Notorious former pharma CEO Martin Shkreli plans to say absolutely nothing if he goes before Congress

Thomson Reuters

The notorious former drug executive Martin Shkreli plans to assert his right against self-incrimination and remain silent if he is forced to appear at a congressional hearing in Washington next Tuesday about drug prices, according to a letter seen by Reuters.

Shkreli's lawyer informed the U.S. House Committee on Oversight and Government Reform of his intent not to answer questions and asked the committee that Shkreli be excused from appearing, Chairman Jason Chaffetz, a Utah Republican, wrote in the letter dated Wednesday to Shkreli's lawyer.

Chaffetz noted the former pharma CEO could face criminal prosecution for contempt if he fails to appear at the hearing, scheduled for Tuesday. "Mr. Shkreli is uniquely qualified to answer questions about rising prescription drug prices," Chaffetz wrote.

The lawmaker held out the possibility of a compromise, writing that the committee may agree to hear testimony in a non-public session or to immunize the testimony so that it could not be used in the criminal prosecution.

The hedge-fund manager turned pharma executive became a household name in September after his company, Turing Pharmaceuticals, raised the price of a critical antiparasitic drug by5,000% .

The increase prompted public anger and drew regulatory scrutiny to the issue of drug pricing from Congress. Shkreli was originally asked to testify before the House committee on the topic in December. That month, he was also was arrested on charges of securities fraud related to events earlier in his career.

Because he is currently out on bail and has to remain in New York, Shkreli had to request for the criminal court to allow him to travel to Washington, D.C. for the hearing. However, the House committee said, Shkreli has not taken the steps to make that happen.

Rep. Elijah Cummings (D-MD), ranking member of the Committee on Oversight and Government Reform, said in an emailed statement, "Mr. Shkreli was subpoenaed to appear before Congress, and it is his responsibility to take reasonable steps to comply. If he plans on trying to use his own intentional inaction as some kind of bogus excuse for not showing up at Tuesday’s hearing, people will see right through such a juvenile tactic."

Shkreli responded to the congressman via Twitter:

Tweet Embed:
https://twitter.com/mims/statuses/690247784151322624
Your attempt to subvert my constitutional right to the 5th amendment are disgusting & insulting to all Americans @OversightDems @RepCummings

(Reuters reporting by Nate Raymond and David Ingram in New York)

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