Ah, Martin Shkreli. You’re finally gonna get what’s been coming to you.
A federal judge on Friday sentenced Martin Shkreli, the notorious former hedge fund manager, to seven years in prison for defrauding his investors. U.S. District Judge Kiyo Matsumoto roughly split the difference between the 15 years prosecutors asked for and the 18 months sought by Shkreli’s defense team. Shkreli, 34, who delivered a tearful speech to Matsumoto apologizing for his conduct and pleading for leniency, did not react to the sentence.
Shkreli, best known for raising the price of an AIDS drug by 5,000 percent when he was chief executive of Turing Pharmaceuticals, was convicted last August of defrauding the investors in his hedge funds, MSMB Capital and MSMB Healthcare.
With Friends Like These . . .
. . .In pleading for a short sentence, the defendant’s lawyer portrayed Shkreli as a misunderstood genius, suffering from depression and anxiety conditions. “This is an interesting man with great potential,” he said. But, he acknowledged, it is not difficult to understand people’s frustration’s with Shkreli. “There are times when I want to hold him and hug him,” he said. “And there are times when I want to punch him in the face.” Usually boisterous and defiant, Shkreli spent most of the three-hour hearing, dressed in a dark prison uniform and black glasses, staring down into his lap. He cried as he told the judge that “poor judgment led me here. … The only person to blame for me being here is me.”
But Wait, There’s More
Yes. Yes, there is.