United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Martin Shkreli Is Off to Jail – For Seven Years

One News Page Staff Saturday, 10 March 2018
Martin Shkreli Is Off to Jail – For Seven Yearsby 👨‍💻 Graham Pierrepoint

Martin Shkreli has captured many headlines over the years thanks to his involvement in pharmaceuticals and thanks to his widely reported move to increase the price of lifesaving medication by 5000% - along with his continued appearances in the media as someone who was seemingly proud to do so. The media has offered several pieces on the so-called ‘Pharma Bro’ over the years – he has been labelled by some as smug and irresponsible several times over – and while these words are hardly going to impact upon his freedom, the decision this week to see him incarcerated for fraud certainly will.

Prosecutors in the US sought extensive jail time for the entrepreneur, with it having been alleged that he created a scheme whereby he reportedly lied to hedge fund investors and moved millions of dollars across from Retrophin Inc – a drug company – however, it has been determined that he will spend seven years behind bars, a sentence which lead Shkreli to weep in court. Shkreli’s notoriety for upping the price of the Daraprim drug from $13.50 to $750 per pill three years ago is only the tip of the iceberg – he is not being incarcerated for this action, rather, the law has caught up with him with regard to fraudulent actions he carried out through his financial enterprises.

Shkreli had previously written to the judge presiding for leniency – on the grounds that he did not ‘act appropriately’ – however, while he will not escape jail, it seems that he will be benefiting from a sentence which is significantly shorter than that which was recommended by prosecutors, who requested that he be imprisoned for 15 years. The defense, meanwhile, requested that just 18 months be served as maximum. It seems, on this occasion, that the law system has opted for a middle route.

Martin Shkreli sentenced to 7 years in prison
Watch: Martin Shkreli sentenced to 7 years in prison

Shkreli is thought to have not only scammed investors – over $11 million is alleged to have been involved – but also that he has been funding himself through his own pharmaceutical firm. This, coupled with the entrepreneur’s already controversial image, seem to have lit up the media in recent days. He has been summed up as a ‘dangerous’ man in court – one which, according to the legal system and presiding judge, will not be free on the streets any time soon. Despite Shkreli having seemingly revelled in his notoriety in recent years, his weeping in court may well show that those days are behind him as he heads off to spend the majority of the next decade behind bars.

Credit: Wibbitz Studio - Published < > Embed
News video: Martin Shkreli Sentenced to Seven Years in Prison

▶ Martin Shkreli Sentenced to Seven Years in Prison 00:59

Martin Shkreli Sentenced to Seven Years in Prison A Brooklyn judge sentenced the "Pharma Bro" for defrauding investors in two failed hedge funds, according to reports. Judge Matsumoto found the losses from his crimes to total $10.4 million and ordered Shkreli to forfeit $7.4 million. He was also...

Recent related videos from verified sources

Chelsea Manning jailed for refusing to testify [Video]Chelsea Manning jailed for refusing to testify

A federal judge ordered Chelsea Manning held in contempt of court Friday for refusing to answer questions in a grand jury investigation into Wikileaks. The U.S. Army soldier served seven years in..

Credit: Reuters Studio     Duration: 01:09Published

The Talk - 'The Talk' Hosts Slam Bill Cosby For Saying He's a 'political prisoner' [Video]The Talk - 'The Talk' Hosts Slam Bill Cosby For Saying He's a 'political prisoner'

"The Talk" the hosts discuss Bill Cosby's recent message from prison referring to himself as a "political prisoner" and claims likeness to Ghandi, Nelson Mandela and Martin Luther King, Jr. Carrie Ann..

Credit: CBS     Duration: 01:50Published

Rudd plans tougher jail terms for pension abuses [Video]Rudd plans tougher jail terms for pension abuses

Bosses who are reckless with their employees' pensions could be jailed for up to seven years, Amber Rudd has warned. The Work and Pensions Secretary said "wilful or reckless behaviour" relating to a..

Credit: ODN     Duration: 01:19Published

Denmark Urges Russia To Respect Rights Of Jailed Danish Jehovah Witness [Video]Denmark Urges Russia To Respect Rights Of Jailed Danish Jehovah Witness

Denmark on Wednesday urged Russia to respect the rights and freedom of religion of a Danish citizen living in Russia. The plea comes after a Russian court sentenced Dennis Christensen, an adherent of..

Credit: Wochit News     Duration: 00:37Published

You Might Like

Other recent news in World

Norway CRUISE SHIP heads to port after passenger airliftsHUGE FOSSIL DISCOVERY MADE IN CHINA's Hubei province
THERESA MAY faces UK cabinet coupAnti-Brexit march in London sees thousands take to the streets to demand a second referendum
•More original news reports from One News Page
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.