We couldn’t resist this story published in the LA Times yesterday… it’s the story that just keeps on giving!
“Pharma Bro” Martin Shkreli’s lawyer said he sometimes wants to hug his client and sometimes wants to punch him in the face, but he told a federal judge at Shkreli’s sentencing hearing Friday that his outspokenness shouldn’t be held against him.
Attorney Benjamin Brafman wants U.S. District Judge Kiyo Matsumoto to sentence the former pharmaceutical company CEO known for trolling critics on the internet to 18 months in prison. He was convicted of securities fraud last year for defrauding investors in two failed hedge funds.
Federal prosecutors say he deserves at least 15 years behind bars for pilfering funds behind his investors’ backs to start the drug company and cover up his fraud.
Matsumoto 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.
Shkreli, 34, became notorious for raising the price of a lifesaving drug by 5,000% and trolling critics on the internet with his snarky “Pharma Bro” persona.
Read the full report at http://www.latimes.com/business/la-fi-martin-shkreli-sentencing-20180309-story.html
