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Consumer Confidential

Consumer Confidential With David Lazarus
Martin Shkreli isn't alone in ripping off patients with crazy drug prices

Congress tried to show it feels America’s pain over high prescription-drug costs by calling Martin Shkreli to account Thursday.

Shkreli is the former head of Turing Pharmaceuticals, currently out on $5-million bail after being charged with securities fraud and conspiracy. He became the face of Big Pharma greed after jacking up the price of a one-of-a-kind infection medication by 5,000%.

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Why is the UC system investing in a payday lender accused of trapping people in perpetual debt?

The University of California makes money when American workers become trapped in endless cycles of high-interest debt.

That's because the university has invested millions of dollars in an investment fund that owns one of the country's largest payday lenders, ACE Cash Express, which has branches throughout Southern California.

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Martin Shkreli isn't alone in ripping off patients with crazy drug prices

Congress tried to show it feels America’s pain over high prescription-drug costs by calling Martin Shkreli to account Thursday.

Shkreli is the former head of Turing Pharmaceuticals, currently out on $5-million bail after being charged with securities fraud and conspiracy. He became the face of Big Pharma greed after jacking up the price of a one-of-a-kind infection medication by 5,000%.

Read more
Don't expect this 'award' to help you enter college

The official-looking Certificate of Selection for Award comes in a thick red envelope along with a three-page letter and supporting materials.

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When collectors call, demand proof of your debt

Suzanne Husted went through a rough patch about a decade ago and had to take out a pair of $300 payday loans to get by. She said she paid each back within a couple of months.

Now she's getting calls from two different debt collectors insisting that $2,400 in principal and interest is owed and that she better come across with some scratch or she'll be dragged into court.

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Wireless-only phone users have become a one-stop shop for scam callers

The latest call came the other day. This time it was from someone claiming that Nadege Joly owed more than $200 in electricity bills.

Joly, 42, is used to it by now.

"I get a scam call on my cellphone at least once a week," she told me. "Each time, they say I owe them money and I'm going to get in trouble if I don't pay."

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It's the dark side of wireless life.

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