Martin Shkreli Sentenced to Seven Years in Prison for Securities Fraud

  • Martin Shkreli Sentenced to Seven Years in Prison for Securities Fraud

Martin Shkreli Sentenced to Seven Years in Prison for Securities Fraud

Martin Shkreli in NY, on February 3, 2016. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts. "There is no government conspiracy to take down Martin Shkreli".

Federal prosecutors told a judge on Tuesday that "Pharma Bro" Martin Shkreli should get 15 years behind bars for cheating wealthy investors in his failed hedge funds-a sentence 10 times what his defense says he deserves.

One of those references was by childhood friend Franky Guttman, a comedy editor who worked Fox's "The Last Man on Earth" and the documentary "Free Money". "He's no better than any other fraudster".

"At its core, this case is about Shkreli's deception of people who trusted him", they wrote.

Prosecutors have painted a more sinister view, however, of Shkreli's activities.

Brafman, noting that he was old enough to be Shkreli's father, said his client had not always been easy to work with.

Assistant U.S. Attorney Jacquelyn Kasulis had said a 15 year sentence was justified in part because Shkreli's crimes were not an "isolated lapse in judgment", but a pattern of conduct including separate frauds for his two hedge funds and for his drug company Retrophin Inc. The judge said the property would not be seized until Shkreli had a chance to appeal.

The memo also attacks Shkreli's character, from the months leading up to his arrest to his freakish, cocky behavior at trial last summer.

"There are times when I want to hug him and hold him and comfort him and there are times when I want to punch him in the face", Brafman said. While he was chief executive officer of Turing Pharmaceuticals in 2015, he jacked up the price of the life-saving drug Daraprim, a treatment for HIV patients, from $13.50 a pill to $750. He appeared to show no remorse for the move afterward, smirking through a congressional hearing and calling Congress members "imbeciles" afterward. She suggested that those who were annoyed by it were missing the point. "I don't think the giraffe apologizes for his long neck.it's what makes me, me".

The government's memo, by contrast, mentions Shkreli's online harassment of Teen Vogue columnist Lauren Duca in 2018 after she publicly declined to accompany him to President Trump's inauguration. And after his conviction previous year, the judge revoked his bail and jailed him when he said he would pay a $5,000 bounty to anyone who could get a lock of Hillary Clinton's hair while the Democrat was on a book tour.

The $75,000 fine comes on top of $7.36-million in forfeiture Shkreli had already been ordered to pay following his conviction.

Separately, Shkreli must forfeit almost $7.4 million, a federal judge in Brooklyn, New York, ruled Monday, which could force him to give up a one-of-a-kind Wu-Tang Clan album.