"Pharma Bro" Martin Shkreli, who made headlines around the world when he jacked up the price of a life-saving AIDS drug, has been sentenced to seven years in prison for defrauding investors in two of his failed hedge funds. He was convicted past year of lying to investors in two failed hedge funds.
Martin Shkreli told a federal court that he understands his mistakes and begged forgiveness from the investors he lied to, saying, "I am terribly sorry I lost your trust".
"He's not a teenager who just needs some mentoring", she said.More news: Russian Federation won't accept meddling in its domestic affairs - Putin
The man who embodied the phrase "pharma bro" and once urged his fans to pull a hair from Hillary Clinton's head at a book signing has had a visit from pharma karma.
"I took down Martin Shkreli with my disgraceful and shameful actions", he added. But putting someone in prison for a big chunk of his most vital years for essentially having a deeply personality is harsh. The defense said it was a joke, but Matsumoto ruled it could be seen as "a solicitation of an assault". 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.
Prosecutors were seeking 15 years' prison, arguing that Shkreli showed no remorse for his actions and pointing to his provocative and weird statements posted on social media.
"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".More news: Low Expectations for Secretary Tillerson's Trip to Africa
Shkreli insisted he was being persecuted by prosecutors for being outspoken and confidently predicted after his conviction that he was unlikely to be sentenced to jail. He told the court that he sometimes wants to hug Shkreli and sometimes wants to punch him, but that his outspokenness shouldn't be held against him.
In addition to serving time, Shkreli also owes money. She spent a while going through the letters she received - against and in support - of Shkreli's character.
In addition to his seven-year sentence, Matsumoto has already ordered Shreli to forfeit more than $7 million, including his $5 million bond, and potentially, the only known copy of the Wu-Tang Clan's "Once Upon a Time in Shaolin" and a Picasso painting.
The prosecution, which requested a 15-year minimum, said the public should receive protection against Shkreli.More news: Apple Reportedly Killing Off iTunes LP Format Later This Year