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Martin Shkreli sentenced to seven years in jail for securities fraud

Published on 12/03/18 at 10:49am
Image Credit:House Committee on Oversight and Government Reform

Three years after he became “the most hated man in America” overnight for jacking up the price of life-saving HIV-related toxoplasmosis drug Daraprim by 5,000%, Martin Shkreli has now been sentenced to seven years in jail for charges of securities fraud.

As his price-hiking antics, while highly immoral, were not actually illegal, they were not included in the charges levied against him.

The notorious “pharma bro” cried in court, quoted as saying “the only person to blame for me being here today is me”. Earlier in the week he was ordered to forfeit $7.36m, including his allegedly one-of-a-kind Wu Tang Clan album.

Shkreli was originally convicted on three of eight total charges in August last year, but was released on a $5,000 bond that was later revoked after he offered a $5,000 bounty over social media to anyone who could bring him a lock of Hilary Clinton’s hair.

The sentence will come as an even heavier blow considering his lawyers were seeking between 12 and 18 months, but it is also much lower than the 15 years or more that the prosecution were aiming for. The six months he has already spent in jail will also contribute to serving the overall sentence.

Matt Fellows

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