Pharma Bro gets jail for stock fraud

Martin Shkreli the 'Pharma Bro' jailed for seven years

It's 7 years in prison for Martin Shkreli, convicted of fraud

Martin Shkreli, the disgraced biotech entrepreneur, was sentenced on Friday to seven years in jail for fraud, concluding a saga that began when he became infamous for hiking the price of a life-saving medicine.

Former drug company executive Martin Shkreli arrives at U.S. District Court for the third day of jury deliberations in his securities fraud trial in the Brooklyn borough of NY, U.S., August 2, 2017.

Former Turing Pharmaceuticals CEO Martin Shkreli on being found guilty of two charges of fraud and one charge of conspiracy.

His attorney argued that he deserved 18 months or less and shouldn't be punished for being outspoken. "There are times I want to hug and hold him... times I want to punch him in the face for some of the things he's said".

"He doesn't think that he did anything wrong because he thinks he's different", said prosecutor Jacquelyn Kasulis during the sentencing. He's not a teenager who just needs some mentoring.

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The saga of Martin Shkreli, one of the most hated men on the internet, has finally come to an end. Last fall, he offered online followers a $5,000 reward to anyone who could get a lock of Hillary Clinton's hair.

Former drug company executive Martin Shkreli arrives at US District Court for the third day of jury deliberations in his securities fraud trial in the Brooklyn borough of New York, US, August 2, 2017.

She encouraged Shkreli to continue teaching inmates when he goes to prison.

But she did say his conduct after the verdict made her doubt the sincerity of his remorse.

Shkreli was at the head of the company Turing Pharmaceutical in 2015, when the firm bought the rights to the anti-parasitic drug Daraprim. I was across the street from 9/11; I've built businesses from zero to hero, many times over.

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Shkreli reached global notoriety in recent years as the "pharma bro" who founded Turing Pharmaceuticals, a company that bought the licenses to several medicines and increased the prices substantially.

Federal prosecutors had requested a sentence of at least 15 years after Shkreli was convicted of securities fraud and conspiracy.

"This was a witch hunt of epic proportions", Shkreli said at the time, even if "one or two broomsticks" were unearthed. She spent a while going through the letters she received - against and in support - of Shkreli's character.

Earlier, choking back tears, Shkreli read a prepared statement that was at times deeply remorseful and at times defiant at how the government portrayed his actions.

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