'Pharma Bro' Shkreli set to be sentenced for defrauding investors

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The government charged Shkreli with conspiracy for bilking investors in his hedge funds, MSMB Capital Management and MSMB Healthcare, as well as his former biotech company Retrophin. According to prosecutors, Shkreli "engaged in multiple schemes to ensnare investors through a web of lies and deceit".

Shkreli, 34, was sentenced by US District Judge Kiyo Matsumoto in a Brooklyn federal court on Friday.

Earlier, choking back tears, Shkreli read a prepared statement that was at times deeply remorseful and at times defiant at how the government portrayed his actions.

"This is my fault", he said.

"I'd say there's a good chance there's no jail at all", he told his followers past year on a livestream.

Martin Shkreli has been sentenced to seven years in prison for defrauding investors in two botched hedge funds.

The attorney for convicted fraudster Martin Shkreli (SHKREL'-ee) says his client is doing "fine" after he was sentenced to seven years in prison. "I'm not saying he made life easier being the Pharma Bro - that didn't help his case", said Coffee. If the ex-pharma exec is unable to pay up the money he owes, the feds have said that they will seize Shkreli's property. The agency found nothing amiss.

Although he's probably best known for overseeing a 5,000 percent price hike of a toxoplasmosis drug for HIV-positive patients, Shkreli's post-pharmaceutical shenanigans caught a much attention as his venality while helming Turing Pharmaceuticals.

He has repeatedly maintained that his primary concern was company profit and investor returns.

He continued: "She has great discretion as to the sentence she imposes; she could recognise that he is a first offender and give him modest time". Shkreli faced up to 20 years in prison, and federal prosecutors argued for a sentence of 15 years, reportedly calling him "dangerous" in court today.

Shkreli drew the time after a jury found him guilty of one count of conspiracy to commit securities fraud and 2 counts of securities fraud. "Although he is convicted of fraud, I do believe he is truly a kind and generous person".

Attorney Benjamin Brafman is speaking at the sentencing Friday for the pharmaceutical company CEO on a securities fraud conviction.

The defence sought a lighter sentence, arguing that Shkreli made money for his investors and should be given the chance to quickly resume research into cures for childhood illnesses. After that, Matsumoto revoked his bail and sent him to the Metropolitan Detention Centre in Brooklyn.

"I wanted to be a success in the business world, while being young and immature.I will do it [ONE DAY], the right way".

Before issuing her sentence, the judge noted how Shkreli had an abusive father and panic attacks. He earned further ire by picking fights with people on Twitter and for buying the sole copy of a Wu-Tang Clan album just to keep it away from the public.