'Pharma Bro' being sentenced in fraud case

Former Pharmaceutical Executive Martin Shkreli Set to Learn Fate Friday

Martin Shkreli has been sentenced to seven years in prison for fraud, breaking down crying and begging for "mercy" during his sentencing.

"This is my fault". And then there was this from Shkreli: "I was wrong".

That album has been seized by the federal government as part of Shkreli's sentencing, since he's reportedly cash poor at this time. Its essence is instead about "repeated breaches of trust" and "repeated lies to his investors".

"Pharma Bro" Martin Shkreli cried like a baby before a judge sentenced him to seven years in prison for defrauding investors. Now, Shkreli has been setenced to 7 years in prison. "I remember that before the age of 6, he could quickly recall square roots, multiplication tables, the Periodic Table of Elements and do long division", she said. And now, he's having to give it all up, in order to pay more than $7 million back to the feds.

Defense lawyer Benjamin Brafman said he was "disappointed" in the outcome.

The saga of Martin Shkreli, one of the most hated men on the internet, has finally come to an end. "It could've been a lot worse".

Shkreli received media attention when the company raised the retail price of Daraprim from $13.50 to $750 per pill. Tears welled up in his eyes on Friday as he was sentenced to time behind bars for frauding investors out of millions through two shady hedge funds. "The "real" Martin Shkreli may not be known to anyone save himself", the prosecution said.

Shkreli was convicted in August of lying to investors in his hedge funds and manipulating shares in the biotech company he founded.

After the trial, the judge revoked his $US5 million bond after he offered Facebook followers money to pluck a strand of former presidential candidate Hillary Clinton's hair.

At the sentencing hearing, prosecutor Jacqueline Kasulis slammed Shkreli as an unrepentant fraudster who cares only about himself and his supersized ego.

Prosecutors said Evan Greebel engineered Shkreli's cons at his pharmaceutical company, Retrophin.

"He can't be just an average person who fails, like the rest of us".

By all accounts, Shkreli deserves to do time.

Brafman, in urging the judge for leniency, also admitted that Shkreli could be infuriating. Shkreli said he has counseled fellow inmates and taught classes on finance and mathematics. "There one person to blame for me being here today is me", a choked-up Shkreli told a judge before she imposed the prison term.

Earlier this week, Shkreli was ordered to hand over $US7.36 million ($9.4 million) in assets, including the one-of-a-kind Wu-Tang record that he purchased for $US2 million ($2.6 million), Once Upon a Time in Shaolin. "I take responsibility for the fact that I used to behave and communicate in this way", he continued.

Asked about AIDS patients struggling to afford their medication, he said: "On the advice of counsel, I invoke my Fifth Amendment privilege against self-incrimination, and respectfully decline your question".



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