Pharma bro Martin Shkreli to miss 2024 Paris Olympics


Notorious "pharma bro" Martin Shkreli, after making a sob-filled plea for leniency, was sentenced Friday to seven years in prison for federal fraud charges related to hedge funds and a drug company that he once ran.

The sentence from Judge Kiyo Matsumoto in federal court in NY on Friday (Saturday NZ time) was shorter than the 15 years asked for by prosecutors but much longer than the 12 to 18 months Shkreli's lawyers had sought.

Shkreli being forced to deal with the consequences of his actions (indirectly, since his seven-year prison sentence has nothing to do with abusing his Pharma Bro powers or harassing women, but hey, they got Al Capone on tax evasion and we all seem fine with it).

Shkreli, who is 34, choked back tears as he apologized for his actions, admitting that his conduct was "disgraceful" and "shameful". This is my fault.

In pleading for a short sentence, Shkreli's defense attorney, Benjamin Brafman, portrayed Shkreli as a misunderstood genius suffering from depression and anxiety conditions. His lawyer had initially wanted 12-18 months prison time, while prosecutors called for at least 15 years. Fittingly, he will likely lose the album after being order to forfeit $7.36 million in assets.

She allowed prosecutors to go after Shkreli's Picasso painting and his hip-hop crown jewels - a copy of Lil' Wayne's "Tha Carter V" and a single-edition cut of the Wu Tang Clan's "Once Upon a Time in Shaolin", which reportedly cost $2 million. But he was sent to prison weeks later after he offered a $5,000 bounty in a Facebook post to anyone who could "grab a hair" from Mrs Clinton's head during her recent book tour.

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Attorney Ben Brafman told Mr Matsumoto he sometimes wants to hug Shkreli and sometimes wants to punch him in the face, but said his outspokenness should not be held against him.

"At its core, this case is about Shkreli's deception of people who trusted him".

But even after becoming one of the most hated men in America, Shkreli managed to pull off a spectacular fall from grace, when he was arrested by the Federal Bureau of Investigation on fraud charges, relating to his hedge fund businesses.

Shkreli was convicted in August of lying to investors in his hedge funds and manipulating shares in the biotech company he founded. "There's no conspiracy to take down Martin Shkreli".

He 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".

It wasn't the first time Shkreli courted notoriety online.