news

Martin Shkreli sentenced to 7 years in prison

The Turing Pharmaceuticals founder was dubbed 'the most hated man in America'

2018-03-10

Martin Shkreli has been sentenced to 7 years in jail on fraud charges.

The Turing Pharmaceuticals founder and controversial businessman was dubbed 'the most hated man in America' after he bought the rights to HIV medication drug Daraprim and jacked up the price by 5,000% to $750 (Around £540) per pill.

Shkreli was arrested in the US in December 2015 on fraud charges and received the 7-year prison sentence yesterday (March 9), the New York Times reports. 

He was convicted of defrauding investors in two failed hedge funds and allegedly cried and apologised to US District Judge Kiyo Matsumoto in court after receiving his sentence.

The 34-year-old said: "I want the people who came here today to support me to understand one thing, the only person to blame for me being here today is me.

"I took down Martin Shkreli with my disgraceful and shameful actions," he added.  

Judge Matsumoto insisted that the punishment wasn't about the drug hike or his public persona, but rather the seriousness of his crimes.

He said: "This case is not about Mr. Shkreli's self-cultivated public persona... nor his controversial statements about politics or culture." 

Prosecutors had requested Shkreli serve a 15-year prison sentence, but his lawyers had pushed for 12 to 18 months. 

Alongside 7 years in prison, Shkreli was fined $75,000 and was told that he would have to forfeit $7.3 million in assets.