'Pharma Bro' Martin Shkreli sentenced to seven years in prison

11 March, 2018, 01:31 | Author: Colin Gill
  • Martin Shkreli the 'Pharma Bro' jailed for seven years

Martin Shkreli was sentenced to seven years in prison on Friday for defrauding investors out of more than $10 million.

His high-profile lawyer, Ben Brafman, described Shkreli as a mildly autistic, self-taught genius and asked USA district judge Kiyo Matsumoto to limit the prison sentence to a maximum of 18 months. U.S. District Judge Kiyo Matsumoto handed down the sentence after a jury found him guilty last August of defrauding investors in his hedge funds.

Attorney Benjamin Brafman argued for Matsumoto to sentence the former pharmaceutical company CEO known for trolling critics on the internet to 18 months in prison.

"I'm one of the richest New Yorkers there is, and after today's outcome, it's going to stay that way", he said.

"We do believe, your honor, that he is risky", assistant U.S. Attorney Jacquelyn Kasulis said. He's not a teenager who just needs some mentoring.

What we're seeing is a man getting sentenced to long stay in Federal Prison for being a supreme asshole who also did a dumb fraud.

Speaking in the court in Brooklyn before sentencing, Shkreli said: "There one person to blame for me being here today is me".

Martin Shkreli the 'Pharma Bro' jailed for seven years
Sobbing 'Pharma Bro' Martin Shkreli sentenced to seven years behind bars for fraud

In September 2017, Matsumoto revoked Shkreli's $5 million bail for posting online that he would "pay $5,000 per hair obtained from Hillary Clinton".

Shkreli was born in Brooklyn to parents of Albanian and Croatian descent, who moved to U.S. from Montenegro.

Federal prosecutors sought a sentence of at least 15 years.

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

Shkreli never seemed prepared for his fate, at first predicting he would be acquitted and then insisting that his punishment would be "close to nil".

"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". But while most of us would like to see the pharma-goblin serve time for his exploitation of the pharmaceutical industry, his conviction has nothing to do with exorbitantly and cruelly hiking up the prices of life-saving medications. His father, who sat on the front row of the courtroom throughout the more than four-week trial, looked at the floor as Matsumoto repeatedly testimony that he had been physically and emotionally abusive and that Shkreli has received little support from his parents.

Shkreli had been convicted of securities fraud and conspiracy a month earlier.

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