Probably one of the most hated man around for the past couple of years, pharmaceutical executive Martin Shrkeli was sentenced to 7 years in prison for defrauding investors in hedge funds.
His smirking face in previous court appearances grabbed headlines worldwide. He had no qualms trolling his critics. He earned unprecendented hate for defending the whopping 5000 percent increase of HIV drug Daraprim.
His conviction in a securities fraud case made Shkreli lose his cocky persona. He cried when his sentence was handed down.
“I want the people who came here today to support me to understand one thing, the only person to blame for me being here today is me. I took down Martin Shkreli,” he said to U.S. District Judge Kiyo Matsumoto. He apologized to investors and said that he hopes to make amends with them.
“I am terribly sorry I lost your trust. You deserve far better,” he said.
According to the prosecutors, the 34-year old Shkreli, who earned the nickname Pharma Bro, deserved 15 years in prison for manipulating wealthy investors. His lawyers argued that he was just a misunderstood eccentric man who just used unconventional methods to make investors richer. They think that Shkreli deserved 18 months or less prison time.
Judge Matsumoto said that Shkreli’s sentence was not about raising the cost of the drug or his online antics.
“This case is not about Mr. Shkreli’s self-cultivated public persona … nor his controversial statements about politics or culture,” the judge said.
Shkreli was also fined $75,000 and got credit for the time he already spent in prison, which was roughly six months.
Earlier this week, Matsumoto ruled that Shkreli is required to forfeit more $7.3 million in a brokerage account. His personal assets will also be included, which include the rare Wu Tang Clan album that he said he bought for $2 million. However, the judge ruled that property will not be seized until the Shkreli got a chance for appeal.
His smirking face during a hearing earned him so much hate around the world.
Assistant U.S. Attorney Jacquelyn Kasulis stated that Shkreli deserved the sentence because he committed serious fraud and not just because he became “the most hated man in America.” According to her, Matsumoto had to consider Shkreli’s history and said that the man has “no respect whatsoever” for the law, or the court proceedings.
The District Attorney also stressed that Shkreli “is not a child. He’s not a teenager who just needs some mentoring. He is a man who needs to take responsibility for his actions.”
Shkreli became even more infamous for his antics after his arrest. He mocked prosecutors, got banned from Twitter for harassing a female journalist, went to a sidewalk to heckle Clinton outside her daughter’s home, and gave countless hours of livestreaming from his apartment.
He cited his Fifth Amendment right when he faced a barrage of questions about the drug price hike from members of the Congress. He didn’t say anything and later tweeted that the congressmen were “imbeciles.”
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