'Pharma Bro' gets 7 years for fraud
- Author: David Armstrong Mar 11, 2018,
Mar 11, 2018, 1:08
Shkreli's lawyer also had a confession, reportedly telling the court that he wanted to punch his client in the face at various points over the course of the trial - an unusual admission by a legal representative. "The trial and the six months in a maximum security prison has been a frightening wake-up call", Shkreli wrote, according to CNBC.
"What motivates Martin Shkreli is his own image", Kasulis said.
"He can't be just an average person who fails, like the rest of us". At every opportunity, Shkreli revealed himself to be a not-fully socialized almost-human who retreated reflexively into an emotional armor of bullying prickishness that made him utterly unworthy of sympathy. Tears welled up in his eyes on Friday as he was sentenced to time behind bars for frauding investors out of millions through two shady hedge funds.
Earlier this month, the court ordered the Wu-Tang album be seized along with other assets worth a total of $7.36m, including a Picasso painting and another one-of-its-kind rap record.
Disgraced pharma executive Martin Shkreli will spend 84 months behind bars and forfeit $7.4 million, a NY judge ruled after hearing his tearful plea. After buying the rights to Daraprim, Shkreli increased the price of the drug by over 55 times, - a single pill rose from $13.50 to $750.
"I am disappointed", Benjamin Brafman, Shkreli's attorney, said after the sentencing.
The FBI arrested Shkreli in 2015 on multiple fraud-related charges.
Infamous for his impish online behavior, Shkreli had been in jail since his bail was revoked in September 2017, after he made an offer on Twitter of $5,000 to anyone who could grab a strand of hair from Hillary Clinton.
"I'm not the same person I was", he said.
Unapologetic from the beginning, when he was roundly publicly criticised for defending the 5,000% price increase of Daraprim - a previously cheap drug used to treat HIV - Shkreli seemed to drift through his criminal case as if it was one big joke. Shkreli doesn't deserve a stiff sentence for his public persona as "the most hated man in America", but because he was found guilty of serious crimes, said Assistant U.S. attorney Jacquelyn Kasulis.
"I thought the sentence should have been less than seven years", he said.
"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] enormous, huge Shkreli supporters".
Prosecutors also pointed to Shkreli's unusual conduct inside and outside the courtroom.