Prosecutors Ask for 15 Years in Prison for Ex-Pharmaceutical
March 7, 2018
Prosecutors have asked a federal judge to sentence
ex-pharmaceutical executive Martin Shkreli to a stiff 15 years
in prison for investment fraud.
U.S. attorneys say Shkreli, who hiked the price of the
anti-parasitic drug Daraprim by more than 5,000 percent, has
shown no genuine remorse for his crime.
Shkreli is “a man who has consistently chosen to put profit and
the cultivation of a public image before all else, and a man who
believes the end always justify the means,” the attorneys said.
In a letter to the court, Shkreli expressed contrition. “I was
wrong. I was a fool. I should have known better,” he said.
His lawyers are asking for a relatively light sentence of no
more than 18 months, calling Shkreli a “misunderstood
Shkreli is set to be sentenced Friday by Judge Kiyo Matsumoto,
who has already ordered Shkreli to forfeit $7.3 million in
Along with cash, Shkreli was ordered to relinquish the only copy
of an album recorded by the hip-hop group Wu-Tang Clan, which he
claims he bought at auction for $2 million.
was also ordered to surrender a Picasso painting and other
Shkreli was found guilty in August of defrauding investors by
lying about the performance of two hedge funds he ran. Hedge
funds are complicated high-risk funds that can result in huge
financial returns or huge losses.
Shkreli’s lawyers argued that investors actually made money when
he paid them off in drug company stocks.
Matsumoto revoked Shkreli’s bail in September when Shkreli
offered $5,000 to anyone who could produce a lock of former
Democratic presidential candidate Hillary Clinton's hair.
Shkreli earned the nickname “Pharma-Bro” for hiking the price of
the medication and for sarcastic remarks and courtroom antics
during his trial.