Let me refresh your memory… Martin Shkreli, aka Pharma Bro, became infamous after he bought a life-saving AIDS drug and then raised the cost by 5000% — and he’s now been sentenced to 7 years but for something not entirely related.
He was convinced last August in a trial that went on for 5 weeks for securities fraud and conspiracy. During this time, prosecutors argued that he lied to his investors when he did not inform them that he made a bad stock pick, which resulted in huge losses.
From there, they allege that he raised even more money to pay off other investors OR took money and stock from Retrophin, a pharmaceutical company he ran.
Barely a month after the trial, the judge revoked his bail and ordered him to be put behind bars immediately after offering $5,000 on Facebook for a strand of Hillary Clinton’s hair, haha.
“The Clinton Foundation is willing to KILL to protect its secrets. So on HRC’s book tour, try to grab a hair from her. I must confirm the sequences I have. Will pay $5,000 per hair obtained from Hillary Clinton,” read Shkreli’s Facebook post before it was removed.
From Fox News:
Federal prosecutors had asked U.S. District Judge Kiyo Matsumoto to sentence Shkreli, 34, to at least 15 years in prison. His lawyers had asked for 12 months to 18 months behind bars.
Prosecutors had also told Matsumoto that Shkreli is on the hook for $7.36 million, saying he should have to forfeit such high-priced possessions as a one-of-a-kind Wu-Tang Clan album, a Picasso painting and an unreleased recording that he claims he owns, “Tha Carter V” by Lil Wayne.
Besides his social media persona as Pharma Bro, Shkreli gained notoriety when as CEO of Turing Pharmaceuticals he raised the price of its AIDS drug Daraprim to $750 from $13.50.