Martin Shkreli, the 'Pharma Bro,' broke down in tears before being sentenced

Ruben Fields
March 10, 2018

Assistant U.S. Attorney Jacquelyn Kasulis also said during the sentencing that Shkreli has "no respect whatsoever" for the law.

But she did say his crimes were serious and he needed to be held accountable. "Not once does Shkreli acknowledge that he lied to investors and committed fraud", prosecutors said.

The pharmaceutical executive apologized to investors he defrauded in a securities fraud conviction.

He was convicted a year ago of lying to investors in his hedge funds and manipulating shares a biotech company he founded.

Ultimately, Shkreli's apology did little to deter Matsumoto from handing down the 7 year sentence, which was a little less than half of what prosecutors; he reportedly faced a sentence of 45 years.

Technically, sentencing guidelines would have allowed the court to order Shkreli to serve more than 27 years in prison-but no one expected it would come even close to that. "I now understand how I need to change", Shkreli said in his letter. But Shkreli's attorneys had asked the judge for 12 to 15 months, pointing to his efforts to help patients by developing drugs that treat rare diseases, according to CNBC.

And after his conviction previous year, the judge revoked his bail and jailed him when he said he would pay a $5,000 bounty to anyone who could get a lock of Hillary Clinton's hair while the Democrat was on a book tour.

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"There are times I want to punch him in the face, because he's made my job more hard by some of the things he's said", #MartinShkreli's lawyer Benjamin Brafman tells judge at sentencing.

Before adjourning court, Judge Matsumoto told Shkreli she hoped he would continue instructing inmates, as he has been doing in jail.

Shkreli was widely criticized for raising the price of HIV drug Daraprim by 5,000 percent. His own lawyer confessed to wanting to punch him in the face sometimes. The prosecution requested that 15 years ' imprisonment be imposed, when maximum sentence was 20 years. Seven years is nearly precisely between what Shkreli's lawyers and prosecutors had asked for.

The news sparked a national debate about USA drug prices and Shkreli managed the unlikely feat of uniting Hillary Clinton and Donald Trump in condemning his actions. The "pharma bro" became one of the world's best-known internet trolls for harassing his many critics on social media, resulting in his being repeatedly banned from Twitter.

Prosecutors said Shkreli, 34, was an arrogant manipulator who conned rich investors.

Shkreli was initially freed on bail following his conviction on two counts of securities fraud and one count of conspiracy to commit securities fraud, having been acquitted of five other counts.

The stakes are high: The defense wants the judge to give Shkreli a sentence of 18 months or less because his investors in two failed hedge funds got all of their money back.

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