"Pharma Bro" Martin Shkreli Gets Seven Years for Securities Fraud

U.S. District Court in the Brooklyn borough of New York City

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.

According to the Daily News, Shkreli was crying before his sentence was given out.

Shkreli was found guilty in August of lying to investors in two failed hedge funds and cheating them out of millions.

Martin Shkreli initially begged a judge in NY to impose a lenient sentence of 12 to 18 months.

His lawyers said he was a misunderstood eccentric who used unconventional means to make those same investors even wealthier, and deserved 18 months or less in prison.

The 34-year-old said: "There one person to blame for me being here today is me".

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

She said it was clear he is a "tremendously gifted individual who has the capacity for kindness". "He is a man who needs to take responsibility for his actions".

One of the 21st century's most prominent supervillains, Martin Shkreli, might have finally seen the collapse of his dastardly schemes thanks to a recent decision by a federal judge.




But Shkreli staunchly defended the price in his statements to the media and on his once vibrant Twitter account, cultivating a "pharma bro" persona that was brash and outspoken. "Mr. Shkreli is about to turn 35 years old, he's a man".

But she did say his conduct after the verdict made her doubt the sincerity of his remorse.

At Friday's hearing, Shkreli's lawyer, Ben Brafman, made his case for a lighter sentence, expressing his frustration with some of the things Shkreli had said, saying there were times he wanted to "punch him in the face".

Turing obtained the manufacturing licence for the anti-parasitic drug Daraprim, raising its price from $13.50 (£10) to $750 (£540) per pill. Shkreli was convicted last September on on two counts of securities fraud and one count of conspiracy to commit securities fraud then and released on bail.

Matsumoto said before imposing her sentence that she believed Shkreli was genuinely remorseful and that the letters written by family, friends and acquaintances had helped her understand him more fully.

"Oh, I've certainly thought about [PRISON], anyone in my position would", he told the Financial Times in an interview in 2016, predicting that his fellow inmates "at the white-collar prison [WOULD BE] big, huge Shkreli supporters".

Earlier this week, the judge ruled that Shkreli would have to forfeit more than $7.3 million in assets, including the sole copy of Wu-Tang Clan's Once Upon a Time in Shaolin LP that he had purchased for a price in the $2 million range.

The prosecution, which requested a 15-year minimum, said the public should receive protection against Shkreli.

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