What do you call the sentencing of a Big Pharma exec to 7 years in federal prison?
(Headline Health) Big Pharma executive and hedge fund manager Martin Shkreli was sentenced this week to seven years prison for defrauding investors (full story below).
Shkreli’s sentencing comes of the heels of other recent Big Pharma news reported by Headline Health:
Secret payoffs to a major medical textbook company, fueling the opioid crisis, and operating a multi-billion crony capitalist industry now charging up to $475,000 per patient for some treatments is bound to leave some consumers that the sentencing of a Big Pharma exec to 7 years in jail is … a good start. Details below on Shkreli’s criminal profiteering in the pharmaceutical industry.
‘Pharma Bro’ Shkreli gets seven years jail for defrauding investors
(AFP) Pharmaceutical executive and hedge fund manager Martin Shkreli was sentenced to seven years prison Friday on charges of defrauding investors.
The disgraced former pharmaceutical executive and hedge fund manager was convicted last August of conspiracy to commit securities fraud and two counts of securities fraud.
Shkreli is best known for suddenly raising the price of the drug Daraprim by 5,000 percent — from $13.50 a pill to $750 — in 2015.
Although that incident had nothing to do with his trial before a federal court in New York, so great was the 34 year-old’s notoriety that it was initially difficult to find an impartial jury for the trial.
His bail was revoked in September over a threat aimed at Hillary Clinton — which he insists was a joke.
Shkreli’s high-profile attorney, Ben Brafman, described his client as a mildly autistic self-taught genius and asked Judge Kiyo Matsumoto to limit the prison sentence to a maximum of 18 months.
Prosecutors were seeking 15 years prison, arguing that Shkreli had showed no remorse for his actions and pointing to his provocative and bizarre statements posted on social media.
Displayed with permission from AFP via Repubhub.