Arrogant drug CEO sent to prison.
BROOKLYN, New York: Martin Shkreli, the 34-year-old former drug company executive who became infamous when he raised the price of AIDS drugs 5,000 percent in 2015 has been sentenced for defrauding his investors. He was sentenced to 7 years and a $75,000 fine on Friday.
His conviction and sentence had nothing to do with his decision to rip off AIDS patients. Shkreli became the poster boy for heartless drug company CEOS when he raised the price of life-saving AIDS medicine so high that it was virtually unaffordable to AIDS patients. The spotlight, however, led to an investigation into his finances and resulted in his indictment and conviction.
U.S. District Judge Kiyo Matsumoto sentenced Shkreli Friday. Shkreli did not visibly react as the sentence was announced.
Before he was sentenced, Shkreli's lawyer, Ben Brafman told the court that Shkreli suffered from anxiety disorder and depression. Brafman said Shkreli was a “somewhat broken” person, whom the government wanted to “throw away.”
The judge didn't buy Shkreli's argument, which tried to paint him as a victim.
Last August a jury found Shkreli guilty of defrauding investors in two hedge funds he operated.