Martin Shkreli aka “Pharma Bro” was sentenced to seven years in prison on federal fraud charges Friday, per The Chicago Tribune.
After his sentence was rendered, the usually smug Shkreli started crying while admitting to U.S. District Judge Kiyo Matsumoto that he’d made many mistakes.
“I want the people who came here today to support me to understand one thing, the only person to blame for me being here today is me,” Shkreli stated. “I took down Martin Shkreli.”
He then added, “I am terribly sorry I lost your trust. You deserve far better.”
Shkreli has been in incarcerated for the past six months after he was convicted on two counts of securities fraud this past August.
The seven-year sentence is substantially more than his defense team requested — 18-months maximum. Shkreli will receive credit for the six months served but is also mandated to pay a fine of $75,000.
Shkreli’s lawyer, Benjamin Brafman, reportedly told Judge Matsumoto that his feelings toward his own client are fluid. Brafman admitted that he sometimes wants to hug Shkreli and that sometimes he’d like to punch him in the face. Brafman doesn’t believes Shkreli’s outspoken demeanor should affect his punishment and thought an 18-month sentence was more fitting since all investors received their money back.
Assistant U.S. Attorney Jacquelyn Kasulis did not agree, stating that Shkreli deserved the seven-year sentence…not because he’s “the most hated man in America,”…but rather he has “no respect whatsoever” for the law.
The prosecution closed proceedings by claiming that Shkreli’s lone display of remorse couldn’t be trusted.
“At its core, this case is about Shkreli’s deception of people who trusted him.”
Earlier this week, Shkreli was advised that he’d have to turn over in excess of $7.3 million in personal assets and a brokerage account, including the now-infamous Wu-Tang Clan album, Once Upon A Time In Shaolin. While Shkreli has plans to appeal, the judge stated she won’t seize the property until that happens.
Shkreli has been a nuisance to several members of the Hip Hop world since purchasing the one-of-a-kind Wu album for $2 million in 2015. He also leaked music from the long overdue Lil Wayne album, Tha Carter V. Subsequently, Wayne threatened to sue.