Pharma exec Shkreli no longer with company nor League of Legends team, sources say

Martin "Cerebral" Shkreli, who was arrested yesterday morning under allegations of committing half a decade of fraud while a hedge fund manager, is no longer with the company he founded nor the League of Legends team he backed, sources tell Polygon.

Shkreli was arrested at his New York home early Thursday morning by federal agents and faces numerous Securities Act violations. He was released on a $5 million bond.

Turing Pharmaceuticals AG released a statement this morning announcing Shkreli's resignation from the position of chief executive officer.

"We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors," said Ron Tilles, the interim CEO.

Pro-gaming's Team Imagine was not as forthright about Shkreli's link to the team. Earlier this year, it was reported that he was made chairman of the League of Legends team.

But Pavel "Mozilla" Klaban, who was the team's coach and analyst for about half a year, said that he believes Shkreli is no longer connected to the team. Klaban, who left the team a month or so ago, wasn't sure when or why Shkreli left.

Another source familiar with the situation confirmed Klaban's comments, saying that Shkreli is no longer connected to the team. The source asked not to be named because of the sensitive nature of the story.

Emails to the team's main point of content and other members have not been returned. Riot Games, which created League of Legends, declined to comment for this story.

Shkreli got into esports as a team owner in April when he created the team Odyssey. That team merged with Imagine in August.

But the 32-year-old became notorious after purchasing the rights to and then bumping up the price of an important pharmaceutical drug by nearly 5,500 percent. While still in the news over that issue, it came to light that Shkreli was the person who purchased the only copy of Wu-Tang Clan's latest album.

You can read the full SEC complaint right here.

We will update this story when we hear back from the team about why and when specifically Shkreli left.