Martin Shkreli Will Be Spending Quite Some Time Behind Bars

Martin Shkreli Will Be Spending Quite Some Time Behind Bars

Prosecutors were seeking 15 years' prison, arguing that Shkreli showed no remorse and pointing to his provocative and freaky statements posted on social media. His own lawyer confessed to wanting to punch him in the face sometimes.

It was previously revealed he will also have to forfeit $7.4million in cash and assets. He corresponded with journalists, ridiculing the personal appearance of one female reporter who asked him for an interview.

"I'm not the same person I was", Shkreli said. I am an individual who prizes equal rights, scholastic achievement and individuality.

" 'Do not feel bad for me, ' Shkreli told a packed courtroom that included many of his supporters and family members". There is no conspiracy to take down Martin Shkreli.

Shkreli exhibits "awkward inappropriate social behavior at times that I don't think he can completely control", Brafman said, adding that his client has depression and anxiety. He was also fined $75,000.

Shkreli was found guilty on two counts of securities fraud for duping hedge fund investors in MSMB Capital Management and MSMB Healthcare about the financial performance of the two companies that he operated.

The judge insisted the punishment was not about Shkreli's online antics or raising the cost of the drug. And she quoted one piece of correspondence in which he wrote: "F-- the feds".

Judge Matsumoto ruled on Monday that Shkreli would not only be sentenced to 7 years, he will also have to forfeit $7.36 million to the government to cover his fraud, and his assets (including a one-of-a-kind Wu-Tang Clan album and a Picasso) will be seized if he can not come up with the money.

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Defense attorney Benjamin Brafman described Shkreli as a misunderstood eccentric who used unconventional means to make his defrauded investors even wealthier.

Shkreli, his cocky persona nowhere to be found, cried as he told US District Judge Kiyo Matsumoto he made many mistakes and apologised to investors.

"He wants everyone to believe he is a genius, a whizz kid, a self-taught biotech wonder", said prosecutor Jacquelyn Kasulis.

"Specifically, he is a kind, caring and generous person who uses his time and effort to help those in need. He is a man who needs to take responsibility for his actions".

"At its core, this case is about Shkreli's deception of people who trusted him", they wrote.

After the hearing, he tweeted the lawmakers were "imbeciles". Shkreli's bail was revoked in September after he offered his online followers a $5,000 bounty if they could obtain a lock of Hillary Clinton's hair.

Before sentencing him, the judge said it was up to Congress to fix the issue of the HIV price-hike and spoke about how his family and friends "state, nearly universally, that he is kind and misunderstood" and willing to help others in need.

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