Martin Shkreli, Wu-Tang Clan fan, pharma bro, and embodiment of the evils of capitalism, has been sentenced to seven years in federal prison.
Shkreli first entered the public eye as the founder and CEO of Turing Pharmaceuticals. In 2015, Turing acquired the manufacturing license for Daraprim, a drug that is used to treat toxoplasmosis (the “crazy cat lady” disease) as well as complications of HIV, and raised the price from $13.50 to $750 per pill. While this was perfectly legal, it was also a dick move, and won Shkreli the title of “Most Hated Man in America.” (This, of course, was before Trump was president.)
Not long after the Daraprim mess, Shkreli was arrested by the FBI and charged with securities fraud for his mismanagement of two hedge funds, which were apparently a big ol’ Ponzi scheme. According to prosecutors, Shkreli “engaged in multiple schemes to ensnare investors through a web of lies and deceit.” And while gouging HIV patients isn’t illegal, defrauding investors certainly is. Shkreli was convicted last September on on two counts of securities fraud and one count of conspiracy to commit securities fraud then and released on bail. That bail was revoked soon after when Shkreli posted on Facebook that he would pay $5,000 for a strand of Hillary Clinton’s hair (for cloning purposes, natch.) Shkreli later deleted the post, insisting it was a joke, but a judge decided this was solicitation of assault, and sent him right back to the slammer, where he’s been ever since—and where he will now remain.
Earlier this week, Shkreli was ordered to forfeit nearly $7.4 million in assets, including the one-of-a-kind Wu Tang Clan album he purchased in 2015 for $2 million. Still, it could have been worse for the 34-year-old entrepreneur: Prosecutors asked for a 15-year sentence, in part because Shkrelli refused to take responsibility for his actions. Shkrelli, however, seems to have changed his tune in federal court.
“The one person to blame for me being here today is me,” a teary Shkreli told a judge during his sentencing. “There is no conspiracy to take down Martin Shkreli. … I took down Martin Shkreli with my disgraceful and shameful actions.”
Now, he’ll have plenty of free time to reflect on it.
