Martin Shkreli sentenced to prison

Martin Shkreli

Shkreli, who gained notoriety for inflating the price of a life-saving drug, had faced up to 20 years behind bars for mismanaging money at hedge funds.

Shkreli cried as he told the judge that he made many mistakes and he apologized to investors.

"I thought the sentence should have been less than seven years", he said.

"I'm not the same person I was", he reportedly said. "You deserve far better".

However, Shkreli's decision to raise his drug's price was only an extension of what other private drug companies had already been doing, including the company which Shkreli bought out, CorePharma, which first acquired the rights to Daraprim in 2010. He was also fined $75,000.

Martin Shkreli's sentencing comes just days after he was ordered to relinquish both the one-of-a-kind Wu-Tang Clan album Once Upon A Time In Shaolin as well as Lil Wayne's unreleased project, Tha Carter V.

The judge said the property would not be seized until Shkreli had a chance to appeal.

Prosecutors were seeking 15 years' prison, arguing that Shkreli showed no remorse and pointing to his provocative and freaky statements posted on social media.

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

His attorney argued that he deserved 18 months or less and shouldn't be punished for being outspoken.

Assistant U.S. Attorney Jacquelyn Kasulis countered that Shkreli, 34, is "not a child".

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She said the judge had to consider his history and said he has "no respect whatsoever" for the law, or the court proceedings.

The sentence, which was less than half what the government asked for but more than the 18 months requested by the defense, came after Shkreli sobbed and begged the NY court for "your honor's mercy". "I took down Martin Shkreli with my disgraceful and shameful actions".

Shkreli, born in Brooklyn to Albanian immigrant parents, became known as the "Pharma Bro" in September 2015 after founding Turing Pharmaceuticals, buying the anti-parasitic drug Daraprim and raising its price by 5,000 percent to $750 per pill.

After his arrest in December 2015 he taunted prosecutors, got kicked off of Twitter for harassing a female journalist, heckled Hillary Clinton from the sidewalk outside her daughter's home, gave speeches with the conservative provocateur Milo Yiannopoulos and spent countless hours live-streaming himself in his apartment.

After the hearing, he tweeted the lawmakers were "imbeciles". Shkreli did not visibly react as the sentence was announced. "So I point one back at em, but not the index or pinkie".

"Although he has been convicted of fraud, serious crimes, and he acted for pecuniary gain, he's also a personally generous, giving and kind individual", she said.

Some of the letters sent to the court on his behalf were as quirky as the defendant himself. He also ignored the advice of his lawyer by commenting on the trial via social media and YouTube.

Another supporter said Shkreli's soft side was demonstrated when he adopted a cat from a shelter - named Trashy - that became a fixture on his live streams.

He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme.

Shkreli seemed to treat the case like a big joke.

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