No leniency for Shkreli: Bad-boy pharma executive gets 7 years in prison for fraud

shkreli
Martin Shkreli's lawyers had sought a sentence of between 12 and 18 months. (Image: House Committee on Oversight and Government Reform)

The sentence is in. Despite pleas for sentencing mercy, “Pharma Bro” Martin Shkreli will spend up to seven years in prison on federal securities fraud charges.

U.S. District Judge Kiyo Matsumoto, who also fined Shkreli $75,000, handed down the decision Friday afternoon after a hearing that began with a request for leniency from Shkreli’s lawyer, reports say.

“I’ve got my begging voice on,” Shkreli lawyer Benjamin Brafman told the judge, as quoted by Reuters.

RELATED: Judge's ruling sets Shkreli up for possible 10 years in prison, but he seeks leniency for his good deeds

Shkreli, notorious for a demeanor that’s been labeled “cocky,” “insolent” and “remorseless,” cried as he addressed the judge, saying that “the only person to blame for me being here today is me.”

"I took down Martin Shkreli,” he said.

While the seven-year sentence is far above the 12 to 18 months Shkreli’s lawyers sought, it’s also well below the 15-plus years prosecutors have been eyeing. And the time he’s already spent in jail—about six months—will count toward the sentence.

RELATED: Pharma bro Martin Shkreli convicted of securities fraud

A New York jury convicted Shkreli back in August of three of eight charges, including securities fraud. He was released on a $5 million bond that the judge later revoked after Shkreli served up a social media post offering $5,000 to whomever could bring him a lock of Hillary Clinton’s hair.

It was Shkreli’s 5,000% price hike on HIV-related drug Daraprim, though, that in September 2015 earned him the title of “most hated man in America” and made headlines around the globe.

Suggested Articles

There's a lot at stake in the world of pharma litigation, and in two cases involving J&J and Gilead, attorney misconduct allegations have come up.

Without any new data, Sarepta appealed an FDA rejection and got a surprising nod for Vyondys 53—its second med approved on a surrogate marker.

The departure of BMS' Paul Biondi, who presided over an extensive deal-making strategy, adds to the challenges presented by the Celgene integration.