Martin Shkreli Will Be Spending Quite Some Time Behind Bars

NEW YORK, NY - AUGUST 04:  Former pharmaceutical executive Martin Shkreli pauses while speaking to the media in front of U.S. District Court for the Eastern District of New York with members of his legal team after the jury issued a verdict, August 4, 2017 in the Brooklyn borough of New York City. Shkreli was found guilty on three of the eight counts involving securities fraud and conspiracy to commit securities and wire fraud.  (Photo by Spencer Platt/Getty Images)

Martin Shkreli Will Be Spending Quite Some Time Behind Bars

The "Pharma Bro" was convicted of defrauding investors.

Published March 10, 2018

Pharma Bro, Wu-Tang Clan rare album-buying huckster and arguably the most hated man in America, Martin Shkreli, was just sentenced to some serious time in jail.

The former hedge-fund manager and pharmaceutical business investor originally made infamous headlines for raising the price of the HIV/AIDS drug Daraprim from $13.50 a pill to $750. It later led him into legal troubles, embroiling him in shady and fraudulent business dealings.

Now, a judge has sentenced him to seven years in prison for “defrauding investors in two failed hedge funds.” Formally, he was charged and convicted with securities fraud and his sentence was handed down by U.S. District Judge Kiyo Matsumoto. Shkreli also reportedly cried during his sentencing.

“I want the people who came here today to support me to understand one thing, the only person to blame for me being here today is me. I took down Martin Shkreli,” the 34-year-old told the judge, according to the Chicago Tribune.

Martin Shkreli’s sentencing comes just days after he was ordered to relinquish both the one-of-a-kind Wu-Tang Clan album Once Upon A Time In Shaolin as well as Lil Wayne’s unreleased project, Tha Carter V.

Judge Matsumoto ruled on March 5 that in order to help pay off a $7.36 million forfeiture for securities fraud, Shkreli will have to give up several assets. Aside from the Wu and Wayne LPs, Shkreli will also have to cash in his E-Trade brokerage account, his stake in the drug company Vyera Pharmaceuticals, and a painting by Pablo Picasso.

Peace out, BRO.

Written by Paul Meara


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