Martin Shkreli, the infamous “pharma bro” CEO who massively hiked the price of an anti-parasite treatment, has been sentenced to seven years in prison on fraud charges, according to CNBC. These charges are unrelated to the price increase he did for the anti-parasite treatment.
Shkreli’s defense team argued that he should only receive a sentence of around a year, but prosecutors pushed for at least 15 years, saying that Shkreli has not shown any remorse for his actions. A judge announced the sentencing at a hearing today, where Shkreli reportedly cried while he plead for leniency.
First making his public eye appearance in 2015, Shkreli quickly came out after he did a 5,000 percent medication price increase. That decision led him to become “the most hated man in America.” More often, he seemed to really boast about his reputation, memorably smiling as he pleaded the Fifth during a congressional hearing.
While he did the price increase and became the most hated man in American, his prison sentence is not tied to those actions. Prosecutors accused Shkreli of lying to investors while he was the CEO of a different pharmaceutical company, and taking part in fraudulent actions.