Pharma Bro gets 7 years in fraud case

Pharma Bro gets 7 years in fraud case

Pharma Bro gets 7 years in fraud case

Although the drug controversy had nothing to do with his trial before a federal court in NY, so great was the 34-year-old's notoriety that it was initially hard to find an impartial jury for the trial.

At the hearing, Shkreli had choked up as he said he had learned from his mistakes.

In handing down her sentence, Judge Kiyo Matsumoto cited Shkreli's "egregious multitude of lies", and said that while he seemed "genuinely remorseful", he had also "repeatedly minimised" his conduct.

Pharmaceutical executive and hedge fund manager Martin Shkreli was sentenced to seven years prison for defrauding investors. "I took down Martin Shkreli". A Brooklyn jury found that he had misled investors in two of his hedge funds, MSMB Capital and MSMB Healthcare.

"Mr. Shkreli is about to turn 35 years old", she said "He is a man who needs to take responsibility for his actions".

The judge insisted that the punishment was not about Shkreli's online antics or his raising the cost of the drug. It is not yet clear where he will serve the rest of his time.

But even Brafman acknowledged "there are times when I want to punch him in the face" because his client's behaviour complicated the defence, according to reporters who were in the courtroom.

"He wants everyone to believe he is a genius, a whiz kid, a self-taught biotech wonder", said prosecutor Jacquelyn Kasulis.

Before the sentencing, Brafman told Matsumoto that Shkreli, 34, suffered from depression and an anxiety disorder and was a "somewhat broken" person, whom the government wanted to "throw away". After his arrest in December 2015, he taunted prosecutors, got kicked off of Twitter for harassing a female journalist, heckled Hillary Clinton from the sidewalk outside her daughter's home, gave speeches with the conservative provocateur Milo Yiannopoulos and spent countless hours livestreaming himself from his apartment. Since then he's caught the attention of the public eye for a number of different reasons, including buying the only copy of the Wu-Tang Clan's Once Upon a Time in Shaolin for a reported $2 million and offering his Facebook followers $5,000 to grab a strand of Hillary Clinton's hair during her book tour.

Before sentencing him, the judge said that it was up to Congress to fix the issue of the drug price hike.

"Although he has been convicted of fraud, serious crimes, and he acted for pecuniary gain, he's also a personally generous, giving and kind individual", she said.

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