'Pharma Bro' Martin Shkreli Gets 7 Years In Prison For Securities Fraud

Martin Shkreli

Martin Shkreli was sentenced Friday in Brooklyn's U.S. District Court for misleading investors about details and financial performance for two hedge funds that he managed.

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

At his trial past year, Shkreli often wore a smirk and was chastised by the judge for his behavior, including for an incident in which he told reporters that the prosecutors on the case were "junior varsity". "I know right from wrong".

"I look back and I'm embarrassed and ashamed", he told the court.

Justice came for Martin Shkreli.

" 'I took down Martin Shkreli with my disgraceful and shameful actions'". In August 2017, he was convicted of securities fraud during his time running a hedge fund. The case was unrelated to the 2015 furor in which he was accused of price-gouging, but his arrest was seen as rough justice by the many enemies he made with his smug and abrasive behavior online and off.

The judge described his crimes as serious, and said the punishment had nothing to do with Shkreli's online antics or his drug pricing strategies.

"What motivates Martin Shkreli is his own image", Kasulis said. And she quoted one piece of correspondence in which he wrote: "F-- the feds".

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Matsumoto ruled earlier this week that Shkreli would have to forfeit more than $7.3 million in a brokerage account and personal assets including his one-of-a-kind Wu-Tang Clan album that he boasted he bought for $2 million.

Brafman went on to say that Shkreli "may have some degree of social awkwardness", but is "an interesting man with great potential".

"There are times I want to punch him in the face, because he's made my job more hard by some of the things he's said", #MartinShkreli's lawyer Benjamin Brafman tells judge at sentencing.

The Federal Bureau of Prisons will decide at which federal prison Shkreli will serve his sentence. "He can't just be an average person who fails, like the rest of us.He needs to be mythical; he needs to be larger than life".

But the case had nothing to do with Daraprim, a drug used to treat infections in people with HIV/AIDS. In a Facebook post, he had offered followers $5,000 to pluck a hair from Hillary Clinton. After the hearing, he tweeted that the lawmakers were "imbeciles".

The price hike sparked a public backlash that landed him on Capitol Hill, testifying about drug prices. And she noted that Shkreli's family and friends "state, nearly universally, that he is kind and misunderstood" and willing to help others in need. She suggested that those who were annoyed by it were missing the point.

Some of the letters sent to the court on his behalf were as quirky as the defendant himself. He also ignored the advice of his lawyer by commenting on the trial via social media and YouTube.

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.