Martin Shkreli the 'Pharma Bro' jailed for seven years

Martin Shkreli the 'Pharma Bro' jailed for seven years

Martin Shkreli the 'Pharma Bro' jailed for seven years

Notorious "pharma bro" Martin Shkreli, after making a sob-filled plea for leniency, was sentenced Friday to seven years in prison for federal fraud charges related to hedge funds and a drug company that he once ran.

Federal prosecutors accused Shkreli of cheating investors out of more than $11m between 2009 and 2014 in the investment funds and paying them back - as well as financing his own life - with money from Retrophin, a pharmaceutical company he founded in 2011. "I took down Martin Shkreli with my disgraceful and shameful actions".

He said "the only person to blame for me being here today is me".

Prosecutor Jacqueline Kasulis slammed Shkreli as an unrepentant fraudster who cares only about himself and his supersized ego.

"He's not a teenager who just needs some mentoring", she said.

Martin Shkreli
Martin Shkreli speaking on TV last year

Summing up they called him a "dangerous" man who had failed to show contrition, mocked the justice system and needed to be stopped.

On Friday, judge Kiyo Matsumoto said the fraud case was not about Shkreli's "self-cultivated public persona". After his conviction, Matsumoto revoked his $5 million bailed after he offered his Facebook followers money to grab a strand of Hillary Clinton's hair. Shkreli did not visibly react as the sentence was announced. "It is more than clear that Mr. Shkreli is a gifted individual with a passion for science", she said.

Shkreli is widely known as the former CEO of Turing Pharmaceuticals, the company that, in 2015, hiked the price of pyrimethamine (Daraprim) from $13.50 to $750 a pill.

The seven-year term that Shkreli will serve is less than half of the 15 years that had been sought by prosecutors. The minimum sentence for Shkreli's crimes is 18 months. I was across the street from 9/11; I've built businesses from zero to hero, many times over. His net worth is still about $20 million, after subtracting the forfeiture and the fine, and also the taxes and legal fees he owes. She spent a while going through the letters she received - against and in support - of Shkreli's character. But more importantly than all that, it includes the lone copy of The Wu-Tang Clan's famously (and literally) one-of-a-kind album Once Upon a Time in Shaolin. He told the court that he sometimes wants to hug Shkreli and sometimes wants to punch him, but that his outspokenness shouldn't be held against him.

Before the sentencing, Brafman told Matsumoto that Shkreli, 34, suffered from depression and an anxiety disorder and was a "somewhat broken" person, whom the government wanted to "throw away".

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