Martin Shkreli, known by many as 'Pharma Bro' and the guy who drastically raised the price of life-saving drug Daraprim after acquiring it, is headed to prison for seven years for defrauding investors.
The self-promoting pharmaceutical executive notorious for trolling critics online was convicted in a securities fraud case last year unconnected to the price increase dispute.
Shkreli, his cocky persona nowhere to be found, cried as he told U.S. District Judge Kiyo Matsumoto he made many mistakes and apologized to investors.
"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," he said. "I took down Martin Shkreli."
Shkreli was credited the six months he has already spent in prison and was also fined $75,000.
The judge ruled earlier this week that Shkreli would have to forfeit more than $7.3 million in a brokerage account and personal assets including his one-of-a-kind Wu-Tang Clan album that he boasted he bought for $2 million. The judge said the property would not be seized until Shkreli had a chance to appeal.
The pharmaceutical executive's attorney, Benjamin Brafman, argued for a shorter sentence of 18 months on the grounds that Shkreli's investors more than recouped their money, saying his client should not receive a harsher sentence because he is disliked.
But assistant U.S. Attorney Jacquelyn Kasulis disagreed, saying that he deserves the longer sentence not because he is hated but because he committed a serious crime.
She said the judge had to consider his history and said he has "no respect whatsoever" for the law, or the court proceedings.
"I also want to make clear that Mr. Shkreli is not a child," Kasulis said. "He's not a teenager who just needs some mentoring. He is a man who needs to take responsibility for his actions."