Martin Shkreli sentenced to 7 years in prison for fraud

  • Martin Shkreli sentenced to 7 years in prison for fraud

Martin Shkreli sentenced to 7 years in prison for fraud

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 corresponded with journalists, ridiculing the personal appearance of one female reporter who asked him for an interview. "The affable, amusing guy I knew", Guttman wrote, "slowly gave way to his public persona".

"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] very big, huge Shkreli supporters".

"I'm not the same person I was".

"The only person to blame for me being here today is me", Shkreli said at the sentencing.

"I also want to make clear that Mr. Shkreli is not a child", Kasulis said.

"Pharma Bro" Martin Shkreli cried like a baby before he was sentenced to seven years in prison for defrauding investors. He was also fined $75,000. He was convicted previous year of lying to investors in two failed hedge funds. He says his client has made his job more hard by his online outbursts, but he shouldn't be punished for that.

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. And she quoted one piece of correspondence in which he wrote: "F-- the feds".

Prosecutors had described the 34-year-old as a master manipulator who duped investors, and were calling for a 15-year sentence.

"There are times when I want to hug him and hold him and comfort him and there are times I want to punch him in the face", lawyer Ben Brafman said, per Bloomberg News.

"For years, Shkreli told lie after lie in order to steal his investors' money, manipulate the stock market and enrich himself", said Brooklyn U.S. Attorney Richard Donoghue.

His actions prompted a rebuke from Hillary Clinton, then running for United States president, who said she would crack down on drug pricing if elected - a pledge that wiped tens of billions of dollars from the value of biotech stocks. The judge says she did not take his outside actions into account.

Shkreli rose to infamy in 2015 when, as the CEO of Turing Pharmaceuticals, he raised the price of Daraprim, a lifesaving drug used by some Aids patients, from $13.50 per pill to $750.

Shkreli insisted it was a joke.

"He will now pay the price for repeatedly violating the trust placed in him by his investors, his employees and the public". Afterward, he tweeted that the lawmakers were "imbeciles".

Before his sentencing, Shkreli had been jailed since September for offering $5,000 for each sample of Hillary Clinton's hair that his social media followers brought to him.

Shkreli, who gained notoriety for inflating the price of a life-saving drug, had faced up to 20 years behind bars for mismanaging money at his hedge funds.