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m3n4.net December 15, 2018


'Pharma bro' Martin Shkreli has been sentenced to 7 years in prison

11 March 2018, 01:08 | Vera Richards

'Pharma bro' Martin Shkreli has been sentenced to 7 years in prison

'Pharma bro' Martin Shkreli has been sentenced to 7 years in prison

Shkreli, 34, who delivered a tearful speech to Matsumoto apologizing for his conduct and pleading for leniency, did not react to the sentence. "The trial and the six months in a maximum security prison has been a frightening wake-up call", Shkreli wrote, according to CNBC. Another supporter said Shkreli's soft side was demonstrated when he adopted a cat from a shelter - named Trashy - that became a fixture on his livestreams. He's not a teenager who just needs some mentoring.

In February 2018, Matsumoto found that losses resulting from Shkreli's crimes tallied up to $10.4 million.

Shkreli began working on Wall Street at age 17 before establishing his own hedge fund at age 23.

Several days earlier, Matsumoto ordered Shkreli to surrender almost $7.4 million in assets, including the only copy of a one-of-a-kind album by the rap group Wu-Tang Clan valued at roughly $2 million. Shkreli's attorney Benjamin Brafman had been asking the judge for 18 months or less. After buying the rights to Daraprim, Shkreli increased the price of the drug by over 55 times, - a single pill rose from $13.50 to $750.

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He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme.

Kasulis said Brafman was trying to portray Shkreli as "a child".

Shkreli wasn't being tried for price-gouging sick people on drugs or being a generally irredeemable garbage person, he was being tried for fraud and - forgive us this moment of clarity - we've seen waaaay worse in that department.

"I am not the same person I was during the MSMB era", he said referring to his now dissolved hedge funds.

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There were no such giggles in the NY courtroom this week, as Shkreli choked back tears and read a statement expressing remorse for his actions. "I don't think the real me is a collage of voyeuristic and Orwellian snippets collected over the years", he said.

While Shkreli was growing a beard and drawing the ire of prosecutors, his former lawyer went to trial.

Shkreli was led out of the room in handcuffs after Judge Kiyo Matsumoto delivered the sentence.

Within a few weeks of his conviction, the judge revoked his bail and sent him to jail after he fired off a Facebook post offering a $5,000 reward for a lock of Hillary Clinton's hair. "I am no victim here", Shkreli said, before breaking down into tears as he promised his lawyer not to let him down in his efforts to contribute to society.

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Shkreli's high-profile legal saga is also not yet over.



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