Next Wednesday Martin Shkreli, currently a guest at New York’s Metropolitan Detention Center in Brooklyn, is expected to discover how long he will spend in prison on securities fraud convictions.

Pharmaceutical chief Martin Shkreli has refused to answer questions at a US congressional hearing over severe price hikes for a drug sold by a company that he acquired.

The pharmaceutical entrepreneur facing US charges of securities fraud said he had been the target of authorities for his drug-price hikes and over-the-top public persona.

Martin Shkreli, the former hedge fund manager vilified for buying a pharmaceutical company and jacking up the price of a life-saving drug more than fiftyfold, has been arrested on securities fraud charges unrelated to the furore.

American entrepreneur Martin Shkreli, who hiked the price of a life-saving drug by 5000%, has been arrested by the FBI.