"This Is My Fault" - Martin Shkreli Sentenced To 7 Years In Prison

"This Is My Fault" - Martin Shkreli Sentenced To 7 Years In Prison

Martin Shkreli, former CEO of a US drug company, was sentenced on Friday to seven years and a fine of 75,000 USA dollars for defrauding investors.

The average prison sentence for those convicted of securities and investment fraud in fiscal 2016, the most recent year available, was four years, according to the U.S.

Ah, Martin Shkreli, the disgraced "Pharma Bro" who's been busy ruffling all the feathers in the past few years.

Before passing sentence in Brooklyn federal court, Judge Kiyo Matsumoto said: "This case is not about pharmaceutical pricing or Mr Shkreli's controversial statements or actions, nor his scientific aptitude". This is my fault.

Shkreli himself said: "I was never motivated by money".

Shkreli cried in court before the sentence was handed down.

"There's no conspiracy to take down Martin Shkreli", the former Turing Pharmaceuticals CEO said in court, while wearing a jail jumpsuit.

The seven-year term that Shkreli will serve is less than half of the 15 years that had been sought by prosecutors. Matsumoto also sentenced him to three years of probation after his release and ordered him to pay an additional $75,000 fine. The judge said the property would not be seized until Shkreli had a chance to appeal. His bail was removed after he took to social media and offered a $5,000 bounty to anyone who could get a lock of Hillary Clinton's hair. Shkreli's attorney Benjamin Brafman even said at times he wished to inflict bodily harm on his own client while he argued for a light sentence. During the trail, the judge, Matsumoto, was forced to order Shkreli to stop talking after he walked into a room full of reporters and called the prosecutors the "JV team".

In a ruling earlier in the week, Matsumoto allowed prosecutors to go after the one-of-a-kind Wu-Tang Clan album that Shkreli purchased for a reported $2 million.

To make its case for leniency, the defense asked the judge to consider several letters from Shkreli and his supporters, which included professionals he worked with who vouched for his credentials as a self-made contributor to pharmaceutical advances.

A United States prosecutor, Jacquelyn Kasulis, said that the image of a troubled young man belied Shkreli's arrogance and contempt for the legal process, along with sometimes vicious comments before, during and after the trial. "White collar offenders like Mr. Shkreli use their intelligence and acumen to elude detection", she said.

Judge cites "multitude of lies" and sentences...

Shkreli stoked his notoriety by stonewalling federal lawmakers at a hearing and later tweeting they were "imbeciles".

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