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“Pharma Bro” Martin Shkreli will serve 7 years in prison and forfeit over $7 million after losing appeal

 
Anonymous Coward
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07/19/2019 02:24 PM
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“Pharma Bro” Martin Shkreli will serve 7 years in prison and forfeit over $7 million after losing appeal
Martin Shkreli, also known as the “Pharma Bro,” lost his appeal this Thursday to overturn a 7-year sentence for fraud, cementing his 2017 conviction.

The U.S. Court of Appeals for the 2nd Circuit ruled against Shkreli with a vote of 3-0, NPR reports. Shkreli must also forfeit over than $7.3 million and pay restitution of $388,336. He also must pay a $75,000 fine.

Shkreli earned his notorious public persona after hiking the price of the lifesaving drug Daraprim by more than 5,000 percent overnight after he purchased the rights to the drug. The drug is primarily used by AIDS and cancer patients as well as pregnant women. Shkreli called the fraud case against him “bogus.”

“Rarely has a white-collar criminal defendant evoked hatred and scorn from public in the way Shkreli has. Shkreli’s willingness to lie, step on people, flaunt his wealth and look down on others made him a villain that many wanted to see go down in flames,” James Goodnow, an attorney with a corporate defense firm, told The Washington Post.

Shkreli was convicted on three counts of fraud in 2017 and originally faced up to 20 years in prison.


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Anonymous Coward
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07/19/2019 02:41 PM
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Re: “Pharma Bro” Martin Shkreli will serve 7 years in prison and forfeit over $7 million after losing appeal
So much for "capitalism" -- people don't understand how business works

it's business -- not a charity
Anonymous Coward
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07/19/2019 02:43 PM
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Re: “Pharma Bro” Martin Shkreli will serve 7 years in prison and forfeit over $7 million after losing appeal
Good, maybe there's a god.
Anonymous Coward
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07/19/2019 02:44 PM
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Re: “Pharma Bro” Martin Shkreli will serve 7 years in prison and forfeit over $7 million after losing appeal
So much for "capitalism" -- people don't understand how business works

it's business -- not a charity
 Quoting: Anonymous Coward 75112443


Shkreli was a scammer who lied to investors and took their money.





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