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Martin Shkreli sentenced to 7 years in prison


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Martin Shkreli offers Kanye West $10M for new album

You won't be able to purchase Kanye West's newest album if Martin Shkreli has anything to say about it.

The pharmaceutical CEO, who recently made headlines after being accused of widespread securities fraud, took to Twitter on Thursday to offer the famed rapper $10 million in exchange for exclusive access to Kanye's newest album, "The Life of Pablo."

West, who is no stranger to controversy and social media himself, did not immediately reply.

Shkreli famously purchased the only copy of the Wu-Tang Clan's album "Once Upon a Time in Shaolin" for $2 million to "keep it from the people."

The purchase may eventually prove more costly for the former hedge fund manager, as a lawsuit surfaced on Tuesday claiming that the Wu-Tang Clan album contains illustrations ripped off from a New York artist.

The pharma bad boy's E-Trade stock account — valued at $45 million — lost a whopping $41 million in value since last month, when it was used to secure a $5 million criminal release bond.

http://www.cnbc.com/2016/02/11/martin-shkreli-offers-kanye-west-10m-for-new-album.html

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  • 1 year later...

'Pharma bro' Martin Shkreli found guilty of 3 of 8 charges, including securities fraud

A federal jury found notorious "Pharma bro" Martin Shkreli guilty of multiple criminal charges Friday.

Shkreli, 34, was convicted of some of the eight criminal counts that he had faced, which had included securities fraud and conspiracy to commit both securities fraud and wire fraud, after a more-than-month-long trial in Brooklyn, New York, federal court.

Of the eight counts, Shkreli was found guilty of three. Those included conspiracy to commit securities fraud, and two counts of securities fraud. He was found not guilty of five counts, including those related to wire fraud.

He faces up to 20 years in prison when he is sentenced.

Prosecutors said a mountain of testimony and evidence at trial showed that Shkreli duped multiple investors into putting millions of dollars into two hedge funds he ran, MSMB Capital and MSMB Healthcare, by falsely claiming to have an excellent record of running such funds, and by falsely stating his investment strategy had a low level of risk.

After getting their money, prosecutor said, Shkreli quickly lost much of it, and also used some of it to capitalize his infant pharmaceuticals company, Retrophin, even as he continued sending out financial statements to investors claiming positive returns.

And when investors asked for their money to be redeemed to them in cash, Shkreli brushed them off for months or more, inventing excuses and suggesting alternative ways to pay them back, according to the prosecution's case.

Prosecutors said that he then looted the stock of Retrophin and cash from the young firm to pay off the hedge-fund investors who he had ripped off.

Shkreli was found not guilty of the counts that were tied to Retrophin, which were considered to be some of the most serious charges against him. 

The charges were unrelated to Shkreli's first claim to public notoriety: raising the price of an anti-parasite drug called Daraprim by more than 5,000 percent in 2015, while heading another company, Turing Pharmaceuticals.

However, Shkreli was indicted in the federal case several months after that price increase came to light, and after he reveled in the widespread scorn that followed.

https://www.cnbc.com/2017/08/04/pharma-bro-martin-shkreli-convicted-in-federal-fraud-case.html

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Hearing he wasn't found guilty on the worst of them though? WTF. Though also heard the ones he was found guilty of are also pretty bad so...dunno. This swine MUST get at least some jail time. 

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There aren't enough of words in the English language that can describe how despicable this man is. He makes Donald Trump look like Mr. Rogers. 

I'm not an advocate for violence in any way, but I'd make an exception for him. I hope he gets the shit beat out of him while in prison. 

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When does this demonic bastard get sentenced? Between Cosby and that bitch who texted her ex to death..where the fuck is the justice?! If this pig only gets probation and/or a fine or a super light sentence the outrage will actually be 100x worse than Cosby. Just pure evil. Total comic book character/villain but in real life. It pulsates and he doesn't even attempt to semi mask it. The fact he has social media accounts and there are other pieces of shits who follow him and love everything he stands for are equally as repulsive. He's basically a mini Trump. Same sociopath playbook. 

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29 minutes ago, tuckeye said:

so he is going to jail though right and he knows it. livestreaming afterward like its all one big joke. he's gonna get a serious wake up call once he's in jail. lol

Even if he does it's all about how long. Dunno what the maximum is. Plus, I think it's a federal jail so it would be exactly like how this scumbag boasted to the press about how he'd handle it. He'd just play basketball and play X-Box everyday until he's out. This subhuman attention whore should rot in jail in solitary confinement the rest of his life like Madoff. Having NO contact with the  world would possibly be the only thing that affects him. Problem is he's only 34 and may be evil but brilliant. As bad as they come. If not in jail, hopefully when he gets out he'll wish he was in jail as the GP makes his life a living hell 24/7. People REALLY hate this guy. 

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Um if it's 7 years doesn't this mean he could get out in/around 1/2 that time (good behavior etc..)?  :wacko:

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^ Actually I'm with you. That he actually GOT 7 years! Would've been pissed but would not at all have been surprised if he got like 7 months probation!

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