'Pharma Bro' faces high stakes sentencing in fraud case

'Pharma Bro' faces high stakes sentencing in fraud case

Former drug company executive Martin Shkreli arrives at U.S. District Court for the third day of jury deliberations in his securities fraud trial in the Brooklyn borough of NY, U.S., August 2, 2017.

He was convicted a year ago of lying to investors in his hedge funds and manipulating shares a biotech company he founded. Shkreli being forced to deal with the consequences of his actions (indirectly, since his seven-year prison sentence has nothing to do with abusing his Pharma Bro powers or harassing women, but hey, they got Al Capone on tax evasion and we all seem fine with it).

His lawyers argued that he deserved 12 to 18 months.

Assistant U.S. Attorney Jacquelyn Kasulis countered that Shkreli, 34, is "not a child".

A complicated picture of Shkreli emerged from the trial, said Matsumoto, who said the case had given her a case of insomnia.

Speaking in the court in Brooklyn before sentencing, Shkreli said: "There one person to blame for me being here today is me".

On Friday, judge Kiyo Matsumoto said the fraud case was not about Shkreli's "self-cultivated public persona".

Shkreli has been in jail since September, when Matsumoto revoked his bail after he offered his social media followers $5,000 if they could bring him a hair from former U.S. presidential candidate Hillary Clinton.

At his trial past year, Shkreli often wore a smirk and was chastised by the judge for his behavior, including for an incident in which he told reporters that the prosecutors on the case were "junior varsity".

Shkreli was also booted from Twitter early a year ago for harassing journalist Lauren Duca.

"Whatever adverse media attention he has brought upon himself with his online presence is ... not before me", she said.

The verdict left Brafman suggesting that Shkreli might even avoid jail time. The prosecution will speak next as the sides weigh what the appropriate sentencing range is, then debate how long Shkreli will actually serve.

Shkreli was at the head of the company Turing Pharmaceutical in 2015, when the firm bought the rights to the anti-parasitic drug Daraprim.

Ahead of sentencing, Shkreli's attorney told the judge there were times he wanted to punch his client in the face.

Shkreli also withdrew hundreds of thousands of dollars from the funds, far more than was permitted by the partnership agreements. She spent a while going through the letters she received - against and in support - of Shkreli's character. Still, she noted, that in a January email conversation, Shkreli allegedly wrote "f- the feds" and in other exchanges downplayed the seriousness of having to forfeit millions of dollars because of his conviction.

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