Legal, People

Martin Shkreli sentenced to 7 years on felony fraud convictions

Federal judge Kiyo Matsumoto in a Brooklyn court today sentenced Martin Shkreli to 7 years on three felony fraud convictions, ending a lengthy public spectacle in which the biotech exec managed to repeatedly enrage the public over his drug pricing schemes. He was convicted, though, on charges related to lying to investors in his hedge funds.

Shkreli’s attorney, Ben Brafman, had waged a skillful campaign to guard the defiant young exec, who, after making bail, wound up back in prison awaiting sentencing after the judge was angered by Shkreli’s bizarre offer of a $5,000 bounty on Hillary Clinton’s hair. The judge allowed 6 months credit for time served, leaving a long stretch for Shkreli behind bars.

Minutes before the sentencing, Brafman argued the government’s request for 15 years was inappropriate, calling it “draconian.” Brafman said Shkreli “may be brilliant in certain matters,” but “lacks certain social skills.” He pleaded with the judge not to rule harshly on Shkreli “just for being Martin Shkreli.”

Matsumoto assured Brafman that Shkreli’s social media presence — and the matter of drug pricing — were not issues for her.

“He behaved respectfully in court,” she said.

In his wrap-up, Brafman lastly pled that the judge reconsider the level of security Shkreli should be jailed in.

When the government was up to lay its case against Shkreli, they did it succinctly.

In short, they called Shkreli’s defense absurd, especially the part about sparing him for science’s sake.

Shkreli himself made his last statements, calling his conduct both negligent and stupid.

During the sentencing, Matsumoto said she assumed Shkreli would appeal any sentence he was given, and Brafman confirmed later that he would appeal.


Image: Courtroom sketch of Martin Shkreli and his lawyer Ben Brafman. AP IMAGES


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Biotech Investment Analyst
SV Health Investors Boston, MA
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Recursion Pharmaceuticals Salt Lake City, UT
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Recursion Pharmaceuticals Salt Lake City, UT
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Cadent Therapeutics Cambridge, MA
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