Martin Shkreli Sentenced to 7 Years in Prison

By Staff  |  03/09/2018

Martin Shkreli

Controversial pharma executive, Martin Shkreli, had his day in court on Friday (March 9) and was sentenced to seven years in prison for defrauding investors, reports the Washington Post.

Shkreli, 34, was facing up to 15 years in prison, but reportedly cried while asking for forgiveness and mercy before the judge. He will be given six months credit for time served.

He was found guilty of securities fraud back in August, as well as a single count of conspiracy, while he was acquitted on five other counts of conspiracy.

Earlier this week, U.S. District Judge Kiyo Matsumoto ruled that Shkreli is ordered to forfeit more than $7 million. And, there's reports that he may have to relinquish his possession of the once-off Wu-Tang Clan LP that he purchased in 2015 for $2 million USD.

Ahead of his sentencing, Shkreli wrote a letter to the judge. “I accept the fact that I made serious mistakes,” he wrote, “but I still believe that I am a good person with much potential.”