Martin Shkreli‘s long-running legal saga has finally come to an end after the so-called “Pharma Bro” was sentenced to seven years in prison. According to reports from various outlets close to the situation, Shkreli burst into tears as he asked for leniency from the judge.
CNN Money reports:
He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme. Shkreli called the charges “a witch hunt of epic proportions.”
During his sentencing on Friday in Brooklyn federal court, Shkreli, 34, broke into tears and pleaded with the judge for leniency.
“I look back and I’m embarrassed and ashamed,” he told the court. “I am terribly sorry,” he said to his investors, “I lost your trust.” “There’s no conspiracy to take down Martin Shkreli. I took down Martin Shkreli with my disgraceful and shameful actions.”
At his trial last year, Shkreli often wore a smirk and was chastised by the judge for his behavior, including for an incident in which he told reporters that the prosecutors on the case were “junior varsity.” He also ignored the advice of his lawyer by commenting on the trial via social media and YouTube.
Shkreli was out on bail after his initial sentencing but had his bail revoked and was sent back to jail in September after offering his followers $5,000 for a strand of Hillary Clinton’s hair.
While the former pharmaceutical executive is best known for hiking the price of a life-saving HIV medicine, his conviction Friday was based on him defrauding investors out of $10 million.