'Pharma Bro' Martin Shkreli to receive sentencing for fraud


"I took down Martin Shkreli with my disgraceful and shameful actions".

"He shouldn't be sentenced simply for being Martin Shkreli", Brafman said.

Prosecutors said that between 2009 and 2014, Shkreli lied to investors at MSMB Capital and MSMB Healthcare about how well the funds were doing, and that while he was CEO of Retrophin, he used the pharmaceutical company as a piggy bank to pay off MSMB investors and to cover personal loans and other debts.

The judge said the assets won't be seized until Shkreli has a chance to appeal.

"It's hard to claim victory when someone like Martin Shkreli goes to jail", Brafman said.

He said that he hopes to make amends and learn from his mistakes and apologized to his investors. Shkreli is also notorious for a price-gouging scandal after he raised the price of the lifesaving drug Daraprim by 5,000 percent, from $13.50 per pill to a staggering $750.00 per pill. Shkreli faced up to 20 years in prison, and federal prosecutors argued for a sentence of 15 years, reportedly calling him "dangerous" in court today.

On Monday, the judge ordered Shkreli to forfeit $7.36 million in assets, which could include Shkreli's $5 million E-Trade account, stake in the pharmaceutical company Vyera Pharmaceuticals (formerly Turing Pharmaceuticals), the Wu-Tang Clan album Shkreli purchased in 2015, a Lil Wayne album, an enigma machine, and a Picasso painting.

At Friday's hearing, Shkreli's lawyer, Ben Brafman, made his case for a lighter sentence, expressing his frustration with some of the things Shkreli had said, saying there were times he wanted to "punch him in the face".

"There is so much more I want to do, and I will do it, the right way", Shkreli said, while starting to break into tears.

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

Shkreli had been free on bail until a judge jailed him for offering a $5,000 bounty to anyone who could get a lock of Hillary Clinton's hair past year.

The price hike sparked a public backlash that landed him on Capitol Hill, testifying about drug prices. She suggested that those who were annoyed by it were missing the point. One woman described how she became an avid follower of Shkreli's social media commentary about science, the pharmaceutical industry, but mostly, about himself.