NEW YORK, NY – “Pharma Bro” Martin Shkreli was sentenced to seven years in prison for federal fraud charges on Friday (March 9), according to The Chicago Tribune. During his sentencing, the normally smug Shkreli began to cry as he told U.S. District Judge Kiyo Matsumoto he’d made many mistakes.
“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,” Shkreli said. “I took down Martin Shkreli.”
He added, “I am terribly sorry I lost your trust. You deserve far better.”
Shkreli has been in prison for the last six months after being convicted of two counts of security fraud last August.
The seven-year sentence is much higher than the 18-month maximum requested by defense lawyers. He will get credit for the six months he’s already served but must also pay a $75,000 fine.
Benjamin Brafman, Shkreli’s attorney, reportedly told Matsumoto that his feelings toward his client vary. He admitted that sometimes he wants to hug Shkreli and sometimes he wants to punch him in the face. Brafman believes his client’s outspoken personality shouldn’t factor into his punishment and thought an 18-month sentence was more appropriate since the investors got their money back.
Assistant U.S. Attorney Jacquelyn Kasulis disagreed and said he deserved the seven-year sentence but not because he’s “the most hated man in America,” but because he has “no respect whatsoever” for the law.
Prosectors ended the proceedings by saying Shkreli’s display of remorse couldn’t be trusted.
“At its core, this case is about Shkreli’s deception of people who trusted him.”
Earlier this week, Shkreli learned he’d have to fork over more than $7.3 million in a brokerage account and personal assets, including the infamous Wu-Tang Clan album, Once Upon A Time In Shaolin. Shkreli plans to appeal and the judge said she won’t seize the property until that happens.
Shkreli has been infuriating members of the Hip Hop community since purchasing the one-of-a-kind Wu-Tang album for $2 million in 2015. He’s also leaked music from Lil Wayne’s long overdue album, Tha Carter V. Consequently, Wayne and camp threatened to sue.