Martin Shkreli Sentenced to 7 Years in Federal Prison for Securities Fraud

Here’s the verdict for Mr. Shkreli. . .

Two years ago, when Martin Shkreli invoked his Fifth Amendment right testifying before congress; he had a large smirk on his face that didn’t sit right with some people. Well, this weekend, that smirk was gone as the former pharma-executive cried and sobbed before a Brooklyn Federal Court Judge.

NYC prosecutors sought a sentence of 15 years, while the defense pushed for 12 to 18 months.

In the midst of choking up tears, Martin Shkreli read a letter. He went to say, “The one person to blame for me being here today is me. Not the government. There is no conspiracy to take down Martin Shkreli. I took down Martin Shkreli with my disgraceful and shameful actions. This is my fault. I am no victim here. Do not feel bad for me. I was never motivated by money. I wanted to grow my stature and my reputation. I am here because of my gross, stupid and negligent mistakes I made.”

Well, Judge Kiyo Matsumoto showed little sympathy, handing Mr. Martin Shkreli seven years in prison for federal fraud charges. The conviction was for securities fraud, related to two hedge funds he ran and to his former drug company Retrophin. He was found him guilty of allegedly defrauding investors of how hedges were managed and how much money they had.

Shkreli first gained notoriety, when the government forced him to raise his Daraprim drug 5,000 percent (used by AIDS, malaria and cancer patients). During that controversy two years ago, Martin was looking to post the full $2-million-dollar bail for Bobby Shmurda – including being locked up with GS9 after their infamous Quad Studios bust. Shkreli was putting together a national lawyer defense for his fellow Brooklynites and was privately making advanced moves in his plans.

The news was first announced during his Breakfast Club interview on Power 105. Unfortunately, this led to the FBI arresting him 24 hours later for calling them out on unconstitutional practices against the entire GS9. Fast-forwarding after convictions on both sides, Martin was forced to forfeit $7.4 million of wealth in the conviction. He was also ordered to give up his one-of-a-kind Wu-Tang Clan Once Upon a Time in Shaolin and bootleg copy of Lil Wayne’s Tha Carter V album.


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