'Pharma Bro' Shkreli gets seven years jail for defrauding investors


Shkreli cried as he told the judge that he made many mistakes and he apologized to investors.

"What motivates Martin Shkreli is his own image", Kasulis said.

"I wanted to grow my stature and reputation", he said. "I know right from wrong".

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

"It's hard to claim victory when someone like Martin Shkreli goes to jail", Brafman said.

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Former pharmaceutical executive Martin Shkreli has been sentenced to seven years in prison.

Pharmaceutical executive Martin Shkreli (SHKREL'-ee) was sentenced Friday to seven years in prison by U.S. District Judge Kiyo Matsumoto (KEE'-yoh maht-soo-MOH'-toh) after he was convicted last year of lying to investors in two failed hedge funds. He was also fined $75,000.

Although, according to a letter Shkreli wrote to the judge in hopes of a lighter sentence this stint in prison since his conviction has been "a frightening wake-up call" and that he now understands that he needs to change. His assets include a Picasso painting, $5 million in a personal trading account, and a one-of-a-kind Wu-Tang Clan album, as well as an unreleased Lil Wayne album.

His attorney, Benjamin Brafman, said during the hearing that he was sometimes frustrated by the 34-year-old Shkreli's self-defeating antics.

"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). "He's not a teenager who just needs some mentoring".

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Shkreli seemed to treat the case like a big joke.

He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme. Afterward, he tweeted that the lawmakers were "imbeciles".

The asset forfeiture decision is only the latest bump in the road for Shkreli, who found himself with his bond revoked and in jail last September after a odd post on his Facebook account in which he placed an open bounty of $5,000 on a piece of Hillary Clinton's hair.

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.

Other testimonials were as quirky as the defendant himself. One woman described how she became an avid follower of Shkreli's social media commentary, which she described as being "on par with some form of performance art".

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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.