Published: Sat, March 10, 2018

Supervillain Martin Shkreli Sentenced to 7 Years in Prison, Weeps in Court

Supervillain Martin Shkreli Sentenced to 7 Years in Prison, Weeps in Court

Martin Shkreli, the former pharmaceutical executive who has been publicly excoriated for sharply increasing the price of a lifesaving HIV drug and derisively referred to as the "Pharma Bro", was sentenced on Friday to seven years in prison for defrauding investors in two failed hedge funds and a drug company he once ran.

Shkreli was convicted in August of a year ago on charges related to a Ponzi-like scheme involving two hedge funds he previously managed and his former pharmaceutical company, Retrophin.

Shkreli became the face of pharmaceutical industry evil in 2015 when he increased by 5,000 percent the price of Daraprim, a previously cheap drug used to treat toxoplasmosis, a parasitic infection that can be fatal to people with the AIDS virus or other immune system disorders.

Although that incident had nothing to do with his trial before a federal court in NY, so great was the 34 year-old's notoriety that it was initially hard to find an impartial jury for the trial.

In September, Judge Kiyo Matsumoto revoked his bail after Shkreli took to social media to offer $5,000 to anyone would bring him a strand of Hillary Clinton's hair.

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.

Prosecutors want Shkreli to serve 15 years for the fraud conviction, but Brafman is seeking a lighter sentence of 12-18 months. The judge said the property would not be seized until Shkreli had a chance to appeal.


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

Judge Matsumoto rejected the argument and on Monday ordered Shkreli to forfeit almost $7.4 million in assets. "He's not a teenager who just needs some mentoring".

"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", Brafman said, according to reporter Stephanie Clifford (not to be confused with the other Stephanie Clifford).

Throughout it all, Shkreli was accused of doctoring financial reports to dupe investors and officials. "He is a man who needs to take responsibility for his actions".

He was tight-lipped when faced with a barrage of questions about the price hike from members of Congress a couple of months later, citing his Fifth Amendment right not to incriminate himself.

The defense had asked the judge to consider the letters in its case for leniency, including professionals he worked with who vouched for his credentials as a self-made contributor to pharmaceutical advances. She suggested that those who were annoyed by it were missing the point. In Rushe's article he speaks with John Coffee of Columbia law school who likens the Shkreli case to one against a hedge fund manager, Raj Rajaratnam, which ended in a conviction of 11 years being handed out.

Like this: