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'Pharma Bro' Shkreli gets 7 years for defrauding investors

'Pharma Bro' Shkreli gets 7 years for defrauding investors

'Pharma Bro' Shkreli gets 7 years for defrauding investors

At the sentencing, Shkreli broke into tears, apologized to investors, and accepted responsibility for what he had done.

Shkreli was led out of the room in handcuffs after Judge Kiyo Matsumoto delivered the sentence. "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. Shkreli also was known for flossing his riches on social media, to which the judge acknowledged.

Shkreli was also booted from Twitter early previous year for harassing journalist Lauren Duca.

Shkreli reached global notoriety in recent years as the "pharma bro" who founded Turing Pharmaceuticals, a company that bought the licenses to several medicines and increased the prices substantially. Shkreli was indicted for the unrelated securities fraud charges in December 2015.

During Shkreli's trial, the defence had argued that his crimes were effectively victimless, given that none of the investors in his hedge fund lost money and some in fact made significant gains.

Ah, Martin Shkreli, the disgraced "Pharma Bro" who's been busy ruffling all the feathers in the past few years. The government charged Shkreli with conspiracy for bilking investors in his hedge funds, MSMB Capital Management and MSMB Healthcare, as well as his former biotech company Retrophin.

He also compared raising the price of the life-saving drug to raising the price of an Aston Martin. Fittingly, he will likely lose the album after being order to forfeit $7.36 million in assets.

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Brafman, noting that he was old enough to be Shkreli's father, said his client had not always been easy to work with. And it wasn't a great sign for Shkreli when his own lawyer said in court that there were times he wanted to punch Shkreli directly in the face.

"Mr. Shkreli is not a child", federal prosecutor Jacquelyn Kasulis said.

She said it was clear he is a "tremendously gifted individual who has the capacity for kindness".

A complicated picture of Shkreli emerged from the trial, said Matsumoto, who said the case had given her a case of insomnia. However, she added that "fraud and manipulation are serious offenses that will incur correspondibly serious penalties".

The former CEO of Turing Pharmaceuticals has been in gaol since September, when Judge Matsumoto revoked Shrkeli's bail for offering a $US5000 ($6414) bounty for some of Hillary Clinton's hair on Facebook.

He has so far been held at the Brooklyn Detention Center, a maximum security facility.

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