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Martin Shkreli Sentenced to Seven Years for Fraud

Martin Shkreli Sentenced to Seven Years for Fraud / MediaPunch/MediaPunch/IPx / MediaPunch/MediaPunch/IPx

The prosecution wanted him to be sentenced for 15.

Martin Shkreli, the former pharmaceutical executive who rose to infamy after hiking up prices of the HIV-related drug Daraprim by 5,000 percent, has been sentenced to seven years in prison on unrelated fraud charges, The New York Timesreports. "I took down Martin Shkreli with my disgraceful and shameful actions," he told the judge, shortly before sentencing, a rare glimpse of humility from the self-promoting "pharma bro."

But that egregious example of greed was not what landed Shkreli behind bars. Instead he was convicted for his activity around Retrophin, a pharmaceutical company he founded in 2011, as well as two hedge funds he'd been running. The prosecution had hoped for a sentence of 15 years, while Shkreli's defense wanted 12 to 18 months.

Shkreli was convicted by a jury in August on 3 of 8 accounts of fraud. They found him guilty of lying to investors about hedge fund management and investment numbers.

Related | Martin Shkreli, Pharmaceutical Douche, Arrested for Securities Fraud

When sentencing him, Federal District Court Judge Kiyo A. Matsumoto noted Shkreli's "egregious multitude of lies" and how he "repeatedly minimized" his behavior during hearings.

Shkreli denied accusations of greed, instead claiming that despite overwhelming gross evidence to the contrary, he "was never motivated by money," and that "I [Shkreli] wanted to grow my stature and my reputation. I am here because of my gross, stupid and negligent mistakes I made."

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