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

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

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

"Although he has been convicted of fraud, serious crimes, and he acted for pecuniary gain, he's also a personally generous, giving and kind individual", she said.

Another supporter said Shkreli's soft side was demonstrated when he adopted a cat from a shelter - named Trashy - that became a fixture on his livestreams. And she spoke about how his family and friends "state, nearly universally, that he is kind and misunderstood" and willing to help others in need.

Martin Shkreli-the former hedge fund manager and pharmaceutical executive who is best known for hiking the cost of a life-saving AIDs drug by 5,000 percent-was sentenced to 7 years in prison Friday for defrauding investors.

Prosecutors had asked for a prison term of at least 15 years, while Shkreli's attorneys requested far less, appealing for a 12-to-18 months sentence. "He is a man who needs to take responsibility for his actions".

In September, less than a month after his conviction, Shkreli offered $USS5000 to any of his online followers who plucked a hair from Clinton's head during her book tour. Assistant U.S. Attorney Jacquelyn Kasulis also said during the sentencing that Shkreli has "no respect whatsoever" for the law.

The pharmaceutical executive apologized to investors he defrauded in a securities fraud conviction.

"Please give me a chance to show what I'm capable of", Shkreli said in concluding his statement.

A popular jury already considered in August Shkreli guilty of three criminal charges for diverting money from one of its companies to pay investors two hedge funds that ended up falling.

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A U.S. prosecutor, Jacquelyn Kasulis, said that the image of a troubled young man belied Shkreli's arrogance and contempt for the legal process, along with sometimes vicious comments before, during and after the trial.

Shkreli was emotional in court, sobbing while he addressed the court and saying.

In 2015, Shkreli hit the headlines after defending his decision to increase the price of Daraprim, a cheap drug for treating HIV, by 5,000%. Two counts involve securities fraud and the third count was conspiracy to commit securities fraud.

But even Brafman acknowledged "there are times when I want to punch him in the face" because his client's behavior complicated the defense, according to reporters who were in the courtroom. He says his client has made his job more hard by his online outbursts, but he shouldn't be punished for that. Lawyers for the federal government had asked for a sentence of 15 years in jail.

In the end, Matsumoto sentenced Shkreli to seven years in prison for securities fraud.

Matsumoto said before imposing her sentence that she believed Shkreli was genuinely remorseful and that the letters written by family, friends and acquaintances had helped her understand him more fully.

Prosecutors said Shkreli, 34, was an arrogant manipulator who conned rich investors.

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